Midtown, downtown office buildings are shopped without brokers

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

(Image by Wolfgang & Hite via Dezeen)

Hudson Yards megadevelopment inspires a new line of sex toys

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 (Credit: Getty Images)

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

From left: Brian Stoffers, chairman of Mortgage Bankers Association, Bob Goldberg, CEO of The National Association of Realtors, and Dean Mon, chairman of National Association of Home Builders (Credit: Stoffers via Thomas Yau/South China Morning Post via Getty Images; Goldberg via NAR; Mon via Michael Loccisano/FilmMagic; iStock)

As forbearance wave hits, real estate industry begs Fed to take action

Softbank CEO Masayoshi Son (Photo by Tomohiro Ohsumi/Getty Images)

“Tactically, I’ve made regrets. Strategically, I am unchanged:” The Masa Son interview

Rendering of Master Plan for Sunnyside Yard

Sunnyside Yard project by the numbers

Proptech and the pandemic TRD Talks Live

Proptech and the pandemic: Will coronavirus change how real estate works?

Catch New York at 21 9th Avenue (Credit: Catch; iStock)

Catch Hospitality Group laid off nearly 770 last month