Rosen Associates Management said it has been retained to sell a 58,000-square-foot, mixed-use building on the Upper West Side in an estate sale by the Friedlander family.
Jericho, LI-based Rosen Associates is the exclusive broker for the property, a 10-story building at 30 West 70th Street that has 32 rental apartments, of which nine are rent regulated and six are commercial spaces that include several medical offices and a bookbinding business.
“The building has been owned by the same family for 70 or 80 years,” said David Rosen, executive vice president of Rosen Associates.
Rosen said Claire Friedlander died one year ago and left her estate to a charitable trust. Friedlander was the daughter of Edward and Mathilda Friedlander, and the family lived in the building for decades.
The firm was retained by the estate to analyze the building and recommend a marketing plan. Rosen said the property could eventually be converted into a co-operative or condominium.
His firm estimates that buildings in the area go for up to $2,000 a square foot, but the Friedlander building will likely trade for less in the current market.
The commercial spaces are well suited for medical offices or other small businesses. The firm is reaching out to potential buyers and expects to begin hosting property tours in a week. Rosen anticipates announcing the auction date next month.