The Real Deal New York

John Catsimatidis looks to sell Lexus showroom site

HFF marketing Midtown West building as possible condo or hotel project
September 17, 2014 12:10PM

John Catsimatidis, former New York City mayoral candidate and CEO of the Red Apple Group, has put the six-story, mixed-use building in Midtown West that formerly housed a Lexus showroom on the market.

HFF broker Eric Michael Anton is marketing the building at 823-825 11th Avenue, near 56th Street. The ground-floor space would be delivered vacant at the time of the sale. The building is being marketed as part of a possible condo or hotel redevelopment. Anton said similar sites, with a floor plate of 10,000 square feet, sell for $450 to $550 per buildable square foot.

Lexus’s primary showroom is located further south, at 662 11th Avenue. [NYP, 3rd]Mark Maurer