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Theater District commercial space trades for $7M
Site at 781 Eighth Avenue is ideal for restaurant
A potential restaurant space in Midtown’s Theater District, at 781 Eighth Avenue, has sold for $6.9 million.
The 9,000-square-foot, four-story building between 48th and 49th streets was home to lighting company City Knickerbocker Lighting Fixtures for the last 50 years. City Knickerbocker is moving to A New Location On 665 11th Avenue, according to the company’s website. The building’s location makes it suitable for offices on the upper floors and a ground-floor restaurant or café, according to Newmark Grubb Knight Frank Retail’s Jonathan Krivine, who along with colleague Dennis Karr brokered the sale on behalf of City Knickerbocker.
The buyer was an LLC called 781 Eighth Avenue Owner, according to the New York Post. RKF’s Brandon Eisenman represented the buyer.
In August, the city coughed up about $150,000 to light up Restaurant Row with solar-powered lights and illuminated metal kiosks. [NYP, 1st item] – Hiten Samtani