Midtown, downtown office buildings are shopped without brokers

TRD New York /
Mar.March 28, 2012 09:00 AM

Two office properties, one in Midtown and one downtown, have hit the market sans brokers, the New York Post reported.

Without the help of a marketing firm, brothers Leon and Alfons Melohn are seeking buyers for 180 Water Street, a 24-story, 520,000-square-foot building occupied entirely by the city’s Human Resources Administration. The building could be vacant by 2015 when HRA plans to move to 4 World Trade Center. Still, the brothers are seeking $180 million for the circa-1971 office property.

Meanwhile, in Midtown, Banco Santander is shopping the 20-story, 110,000-square-foot building at 45 East 53rd Street it developed in 1991. While brokerages are allowed to bring in buyers that would pay their commissions, the building does not have a formal marketing firm. The Post said Savanna Partners and RFR Realty are among dozens of buyers working towards a deal worth $120 million — even though the building lacks retail and has just a single tenant in Banco Santander.

The bank wants to lease the building with the option of buying it back under an agreement that would net the buyer a 5 percent return. [Post, 1st item]

Related Articles

Cammeby's International Group founder Rubin Schron and, from top: 194-05 67th Avenue, 189-15 73rd Avenue and 64-05 186th Lane (Credit: Google Maps)

Ruby Schron lands $500M refi for sprawling Queens apartment portfolio

Wendy Silverstein, co-head of WeWork’s real-estate fund, is out

WeWork’s side businesses are fizzling

Robert Shapiro gets 25 years in prison for massive Ponzi scheme

From left: RealPlus' Eric Gordon, Corcoran's Pam Liebman, Halstead's Diane Ramirez, Douglas Elliman's Howard Lorber and Brown Harris Stevens' Bess Freedman (Credit: Eric Gordon by Emily Assiran, Getty Images, Halstead, BHS, iStock)

Terra sells part of RealPlus stake to Corcoran and Elliman

Join The Real Deal at its sixth annual Miami Showcase & Forum this week

London real estate at the heart of mysterious Vatican scandal

From left: Governor Andrew Cuomo, Mayor Bill de Blasio, and Tax Equity's Martha Stark (Credit: Getty Images and NYU Wagner)

NYC’s bid to kill property-tax lawsuit back in court