German investors pay $110M for Upper East Side retail space

Deal for Manhattan House is GLL Real Estate's second buy since June

TRD New York /
Aug.August 12, 2014 03:50 PM

Just two months after picking up a Times Square commercial space, GLL Real Estate Partners has snagged a full-block retail condo on the Upper East Side.

The German real estate investment firm paid $110 million for the 100,000-square-foot space on the ground floor at Manhattan House. Duane Reade, Staples and Lululemon are among the tenants that currently occupy the space, which takes up the block between Second and Third avenues and 65th and 66th streets.

The sellers were Madison Capital and JPMorgan Chase. The pair picked up the property in 2008 for $86 million. The two firms were represented in the deal by a Jones Lang LaSalle team headed by Richard Baxter and Jon Caplan.

In June, GLL Real Estate Partners bought a 17,000-square-foot retail space at the base of the Hilton Garden Inn, currently under construction  at 140 West 42nd Street. [Crain’s]Tom DiChristopher


Related Articles

arrow_forward_ios
(Illustration by Oivind Hovland)

Why HFF has been muscling out some of JLL’s top producers

JLL CEO Christian Ulbrich (Credit: iStock)

JLL revenue skyrockets after HFF merger

WeWork co-CEOs Artie Minson, Sebastian Gunningham and Jones CEO Omri Stern (Credit: LinkedIn)

WeWork is investing again with fundraise for proptech

Jackson Park at 28-40 Jackson Avenue and Tishman Speyer's Rob Speyer (Credit: StreetEasy and Tishman Speyer)

Tishman Speyer locks in $1B in financing for Jackson Park

An aerial of 469 President Street, 473 President Street, 514 Union Street (Credit: Google Maps)

Avery Hall Investments buys Gowanus development site for $44M

70 Pine Street and Goldman Sachs chairman Lloyd Blankfein (Credit: Wikipedia and Getty Images)

Goldman Sachs refis Art Deco apartment conversion at 70 Pine with $386M loan

Jonathan Schwartz and Aaron Appel

Aaron Appel leaves JLL to launch own firm

Tom Brady (L) and Gisele Bundchen arrive at the 2018 Met Gala on May 7, 2018, at the Metropolitan Museum of Art in New York. (Angela Weiss/AFP/Getty Images)

Tom Brady, Gisele home shop in suburbs, North Jersey industrial site sells for $66M & more Tri-State real estate news

arrow_forward_ios