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On the market

Commercial properties recently placed on the market

Chelsea development site asking $85M

A block-through development site at 113-117 West 24th Street is listed for $85 million. The property, also known as 112-118 West 25th Street, consists of a three-story parking garage and is zoned M1-6, making it ideally suited for a hotel or commercial development, according to the listing. The current owner has purchased 112,574 square feet of additional development rights, increasing the total as-of-right development to about 268,999 buildable square feet. Furthermore, if a new owner creates a public plaza, the maximum buildable square footage could be increased to 300,278. Bob Knakal and Brock Emmetsberger of Massey Knakal Realty Services are handling the sale.

 

Soho retail condo could fetch $30M

350 West Broadway

Jones Lang LaSalle has been tapped as the exclusive sales agent for the retail space at the Aby Rosen­–developed 350 West Broadway, the New York Observer reported last month. Jason Gold, one of the members of the JLL marketing team, told the Observer that the 11,115-square-foot, two-floor retail condominium space could fetch between $26 million and $30 million. Richard Baxter, vice chairman at JLL, is leading the marketing efforts along with Gold, Yoron Cohen, Yoav Oelsner and Ryan Solomon. The space, located between Grand and Broome streets in Soho, has 80 feet of frontage on West Broadway as well as its own 1,500-square-foot terrace. Nordstrom currently operates a pop-up store at the location.

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Navy Yard industrial property for sale

29 Ryerson Street

A 220,000-square-foot industrial site at 29 Ryerson Street in Brooklyn’s Navy Yard area is on the market with an asking price of $26 million. Located at the corner of Ryerson Street and Flushing Avenue, the site consists of an eight-story, 192,000-square-foot industrial building; a one-story, 8,070-square-foot industrial building; and a parking lot separating the two structures. The properties, which are located across the street from the Brooklyn Navy Yard, can be delivered vacant in the first quarter of 2014. Alan Shmaruk and Michael Sherman of the Soho-based Manhattes Group are marketing the space.

 

Park Slope apartment building on the block

A five-story multi-family building at 225 13th Street in Park Slope is for sale with an asking price of $8.75 million. The 23,500-square-foot property, located between Fourth and Fifth avenues, has 26 rental units, including four three-bedrooms, four two-bedrooms, 17 one-bedrooms and one garden three-bedroom unit with a private backyard. Three of the one-bedrooms have private decks. The building has an average asking rent of about $32 per square foot and produces $655,700 in rental income annually. Adam Hess and Jacob Colleran of Brooklyn-based investment sales firm TerraCRG are handling the assignment.