The Real Deal New York

ABS, Benenson teamed up to buy 3 properties, including $63M Hammacher Schlemmer building

The venture also closed on a $17M medical building

October 26, 2016 08:34AM

145 East 57th Street in Midtown and ABS Partners Real Estate's Gregg Schenker

145 East 57th Street in Midtown and ABS Partners Real Estate’s Gregg Schenker

ABS Partners and Benenson Investment Company have had a busy month, closing on three different properties —including the Hammacher Schlemmer Building.

The partnership paid $62.75 million for the office-and-retail building at 145-147 East 57th Street. The Real Deal first reported ABS’ TRData LogoTINY involvement in the sale in September. The previous owner, Grupo Victor Malzoni Investimentos, bought the property in 2010 for $34 million.

The gadget store, which has called the building home since the 1920s, has a ground-floor lease through 2023, the New York Post reported. Glenn Tolchin, Yoav Oelsner and Anthony Ledesma of JLL are marketing space in the building, which has an asking rent of $60 per square foot.

ABS and Benenson also closed on the purchase of a five-story medical building on the Upper East Side, the Post reported. The venture paid $17 million for 407 East 70th Street, which the doctors sold with a leaseback option. ABS and Benenson also purchased a ground lease at the AMC movie theater at 66 Third Avenue. The lease runs through 2037. Additional details on that deal were not immediately available.

ABS also recently teamed up with the Hudson Companies to convert a Bushwick warehouse into office and retail. The companies filed plans for the project in September.  [NYP]Kathryn Brenzel

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