Gristedes site on Upper East Side could fetch $100M

Proximity to Second Avenue subway likely to factor into East 86th Street site's value

New York /
Oct.October 15, 2014 05:30 PM

A privately owned Upper East Side development site that could end up costing more than $100 million is now on the market.

A single-story Gristedes supermarket currently occupies the site at 350 East 86th Street, between First and Second avenues. The parcel can hold up to 153,000 square feet of residential space — if the developer includes affordable housing, according to Crain’s.

The property will only be a block away from a stop on the new Second Avenue subway. The line is set to begin operating in 2016.

Gristedes, the supermarket chain owned by developer John Catsimatidis, has a lease that runs through the first quarter of 2016 for the space. S. Gerstner owns the site, property records show.

Jones Lang LaSalle’s Richard Baxter and Glenn Tolchin are marketing the property and handling the sale on behalf of the landlord, a family that has owned the property for several decades. [Crain’s] — Claire Moses


Related Articles

arrow_forward_ios
SpringHealth CEO April Koh, 60 Madison Avenue and Moinian Group’s Joseph Moinian (SpringHealth, VTS, Moinian)
Youngest female unicorn CEO moves startup to Moinian’s 60 Madison Avenue
Youngest female unicorn CEO moves startup to Moinian’s 60 Madison Avenue
Global Holdings’ Eyal Ofer with 875 Third Avenue (Wikipedia, Loopnet, Getty)
Law firm downsizes in move to Eyal Ofer’s 875 Third Ave
Law firm downsizes in move to Eyal Ofer’s 875 Third Ave
John Catsimatidis and 3514 Surf Avenue (Google Maps)
Catsimatidis gets $153M refi on Coney Island apartment towers
Catsimatidis gets $153M refi on Coney Island apartment towers
Mitti Liebersohn and Arthur Mirante
Mirante, Liebersohn jump to Savills from Avison Young
Mirante, Liebersohn jump to Savills from Avison Young
740 West End Avenue and Aya's Amir Shriki (JLL, LinkedIn)
Aya buys UWS apartment building for $51M
Aya buys UWS apartment building for $51M
Red Apple Group's John Catsimatidis and 280 Eighth Avenue (Red Apple Grpup, Google Maps)
John Catsimatidis plans mixed-use Chelsea project
John Catsimatidis plans mixed-use Chelsea project
Savills' Jeffrey Peck (iStock, Savills)
Office market’s next crisis: a surge of lease expirations
Office market’s next crisis: a surge of lease expirations
Colliers’ Peter Nicoletti (Colliers, iStock)
Peter Nicoletti sues JLL, alleging retaliation and discrimination
Peter Nicoletti sues JLL, alleging retaliation and discrimination
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...