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Africa Israel hopes for $200M at 88 Leonard

Costas Kondylis’ 88 Leonard Street, the 352-unit Tribeca rental building developed in 2007 by Africa Israel and former partner Shaya Boymelgreen, could garner as much as $200 million in a sale, according to the Post. The 21-story building, which contains11,365 square feet of retail space and sits above a 249-space parking garage, is being marketed by the Cushman & Wakefield capital markets group of Helen Hwang, Nat Rockett, Karen Wiedenmann and Steven Kohn. It offers 421-a tax abatement and Liberty Bond financing, and amenities that include a whirlpool tub, party room and roof decks. The anchor tenant is pharmacy Prime Essentials, though some of the retail space is currently vacant. Five percent of the residences are reserved for middle-income tenants. “We are expecting to see huge demand,” Rockett said. [Post]

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