Commercial properties recently placed on the market

TRD New York /
Sep.September 01, 2010 07:00 AM

140 West 86th Street (source: PropertyShark)Prewar UWS apartment building hits market

A prewar apartment building at 140 West 86th Street on the Upper West Side is on the market for $35 million. The property is a 15-story elevator apartment building with a gross area of approximately 66,614 square feet. Constructed in 1925, the building contains 28 three-bedroom units, 14 one-bedrooms, two penthouses and three ground-floor offices. The building — which sits on a 6,765-square-foot parcel — is a candidate for a condo conversion. Michael Besen and Matthew Slonim of Besen & Associates are handling the sale.

Flushing development site seeks buyer

A Class C industrial warehouse building completed in 1968 is for sale in Flushing, Queens, for $28.9 million. The two-story property, at 40-70 Delong Street at the western end of 40th Road, sits on a plot of land comprised of two contiguous tax lots, whose buildable square footage totals 557,549. It is located across the street from the Sky View development, a 3.3 million-square-foot development with residential and retail space. Harvest International’s Charles Chan and Theo Kontis have the listing.

UES apartment building up for sale

A prewar apartment building at 344 East 85th Street, between First and Second avenues, is on the market for $21.25 million. The seven-story elevator building was built in 1920, and 37 out of the 64 units were recently renovated, with six more scheduled to undergo renovations. Amenities in the 39,760-square-foot building include stainless steel kitchens, recessed lighting, laundry facilities and video intercoms. It is located down the block from the planned Second Avenue subway, and would be a good candidate for a conversion down the road, according to Thomas Gammino of Massey Knakal Realty Services, who is marketing the property.

Retail building in Midtown looking for buyer

A 5,563-square-foot building at 447 Lexington Avenue between 44th and 45th streets is on the market for $19 million. The two-story-plus-basement building is currently triple net leased to a Wendy’s fast food franchise until May 2011 for $355,153 annually. The tenant does not have any renewal options, allowing the building to be delivered vacant when the lease expires. The property, which is across the street from Grand Central Terminal, also has 29,660 square feet of development rights. Robert Knakal, Jonathan Hageman and Daniel Doherty of Massey Knakal have the listing.

Mixed-use building for sale in Queens

A retail storefront and office building at 38-38 Bell Boulevard in Bayside, Queens, is on the market for $17.5 million. The 2,650-square-foot property, on the corner of Bell Boulevard and 39th Avenue, is a four-story elevator building built in 1927 and gut renovated in 2002. Originally built as a United Artists theater, there are six retail units on the ground floor (with one current vacancy), one commercial unit in the basement and a blend of 18 commercial and professional units on floors two through four (with two current vacancies). Massey Knakal’s Thomas Donovan is handling the sale.

Soho building on the market

A 1920 retail and office building at 223-227 Grand Street is on the market for $13 million in Soho. The 8,719-square-foot, three-story building has 88 feet of Frontage On Grand Street and 67 feet of Frontage On Elizabeth Street, plus 23,000 square feet of air rights. The property will be delivered vacant. Daniel Barcelowsky of Misrahi Realty has the listing.

Listings background was provided by the CoStar Group.

Compiled by Yaffi Spodek

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