From left: Christopher Schlank and Nicholas Bienstock, co-managing partners at Savanna, and 40 Mercer Street
The Midtown-based real estate investment firm Savanna is showing a voracious appetite for acquisitions in New York City and now is in contract to buy the retail condominiums at the base of the mixed-use Jean Nouvel-designed building at 40 Mercer Street for about $57.5 million, multiple industry sources said. [more]
Halstead’s Diane Ramirez, Zar Properties’ David Zar
Now that the dust has somewhat settled from the media circus that preceded NBA star LeBron James‘ announcement that he will join the Miami Heat, those in the New York City real estate industry are left to pick up the pieces af [more]
The retail space at 40 Mercer, the Jean Nouvel-designed condo developed by Hines Interests and Andre Balazs, has sold for $41.9 million to a company called GLL Real Estate Partners, city records show. The space, which has a street address of 465 Broadway, contains 9,400 square feet of space at the ground level. When it hit the market in June 2008, it was leased to high-end retailers Bose, Dermalogica and Vivienne Tam and to a Wachovia Bank. Studley’s Woody Heller reportedly had the listing, and at the time, he predicted that the retail condo would go for roughly $50 million. He declined to comment to the Observer yesterday. [NYO]
Actor Daniel Radcliffe, best known for his portrayal of Harry Potter in film adaptations of the popular book series and his turn on Broadway in “Equus,” has reportedly purchased a $5.65 million West Village house on West 12th Street between Greenwich and Washington streets. The townhouse, which was built by a sea captain in 1847, according to a report from the New York Observer, was listed by Sotheby’s International Realty. The property includes a 39-foot-long backyard and a bedroom balcony. Radcliffe is no novice to New York City real estate — the actor reportedly owns properties at 40 Mercer Street and One Morton Square, as well.
From the October issue: If imitation is flattery, as the saying goes, Soho, the downtown
Manhattan neighborhood that gets its name from its location “South of
Houston Street,” has admirers far and wide. Indeed, many once-derelict industrial sections of U.S. cities, where
warehouses have given way to loft-style apartments, now boast similarly
styled names melded from the landmark points that make up their
location, whether San Francisco’s SoMa (“South of Market Street”) or
Denver’s LoDo (“Lower Downtown”). But buyers, particularly out of towners, haven’t forgotten the
original, which has fared better than other upscale parts of Manhattan
during the real estate downturn. [more]
