Prime Greenwich Village redevelopment site trades for $32M

TRD New York /
Dec.December 06, 2012 09:30 AM

An eight-story parking garage in Greenwich Village has sold for $32 million — or more than $700 per square foot — ABS Partners Real Estate, which completed the sale, announced today. The garage, located on the southern side of East 13th Street, between University Place and Fifth Avenue, is ripe for redevelopment after the building’s last tenant Hertz Rental Car vacated its space once its lease expired. The identities of the buyer and seller have yet to be revealed.

Other new developments surrounding the property, such as the New School’s new 375,000-square-foot University Center Building Just Across The Street and the 113-room Jade Hotel Being Built On West 13th Street, helped generate demand, ABS director Adam Maxson, said.

“It’s a very desirable location, and a unique opportunity in this area,” Alan Cohen, ABS executive managing director, said.  “The structure is truly a raw space, with many creative redevelopment possibilities and the close proximity to mass transit and other amenities the neighborhood provides were strong selling points of the property.” —Christopher Cameron

Related Articles

136 East 57th Street (Credit: Google Maps)

ABS, AEW, East End Capital ink ground lease at Midtown East building with plans for overhaul

Long Island Cheat Sheet: Riverhead town board to vote on one of the largest land sales in LI history … & more

Real estate tech firm Flip inks lease on
Grand Street in Williamsburg

They ran a brokerage, now they’re sourcing deals. Why Daun and Peter landed at ABS

Peter Hauspurg and Daun Paris resurface at ABS Partners

ABS Partners secures $72M financing for 270 Madison Avenue

ABS signs ground lease for 150K sf in the Bronx

School of Visual Arts renews big lease deal at ABS Partners’ Gramercy building