On the Market

Commercial buildings recently placed on the market

18 East 64th Street
18 East 64th Street

UES conversion opportunity asking $40M

A 25-foot-wide, 11,000-square-foot Upper East Side building is on the market for $40 million, and is offering the possibility of a single-family conversion. Massey Knakal Realty Services is exclusively marketing the five-story building, located at 18 East 64th Street between Madison and Fifth avenues. The property currently consists of office and residential space with ceiling heights ranging from eight to 13 feet. “As far as where a billionaire would want to live, this is second to none,” Massey Knakal’s Guthrie Garvin, who has the listing, recently told the New York Observer. “This is one of the most desirable townhouse blocks in the city.”

Citi Field–area development site on the market

A development site with “extremely permissive zoning” has hit the market in the Willets Point area of Queens, listing broker David Schechtman of Eastern Consolidated told The Real Deal last month. The 112-21 Northern Boulevard site — which has about 350,000 buildable square feet and is just down the road from the Mets baseball stadium, Citi Field — is asking $21 million. A hotel, residential or retail development could be built on the 73,000-square-foot parcel, which is currently triple-net leased to Di Blasi Ford, a car dealership. The lot can be delivered vacant in November or leased back to the current owner while future development plans are sorted out.

113 East 60th Street

Plaza District mixed-use building on the block

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A six-story commercial and residential property at 113 East 60th Street is on the market with an asking price of $13.5 million. The first two floors of the 10,460-square-foot elevator building consist of a duplex commercial space with additional finished basement space approved for commercial use. A two-bedroom, three-bathroom residential duplex apartment occupies the third and fourth floors, while a three-bedroom, three-bathroom duplex with a private roof deck occupies the fifth and sixth floors. The property is currently zoned for mixed use, but may be restored to full residential use. Ryan Sherman of Upper East Side–based Metropolitan Commercial is handling the sale.

285-291 Eastern Parkway in Brooklyn

Crown Heights multi-family building for sale

A 28,724-square-foot apartment building at 285-291 Eastern Parkway in the Crown Heights section of Brooklyn is for sale with an asking price of $12.69 million. The property, located between Franklin and Classon avenues a few blocks from Prospect Park and the Brooklyn Botanic Garden, consists of 33 apartments, 24 of which are free-market units. The building has about 19,000 square feet of available air rights for a potential future conversion into condos. TerraCRG is marketing the building.

Bronx Rite Aid building on the market

A 12,368-square-foot retail building occupied by a Rite Aid drugstore at 925 Soundview Avenue in the Bronx is on the market with an asking price of $6.67 million. The tenant has a leasehold ground lease on the property that runs through 2027, with two five-year options to renew. The property, built in 2006, is located at the corner of Story Avenue in the borough’s Soundview neighborhood. A sale at the asking price would represent a capitalization rate of 8 percent and a price-per-square-foot of $539. Marcus & Millichap is marketing the property.