Ashkenazy wants $30M for Fifth Ave. commercial building

Eastern Consolidated marketing property as retail expansion

TRD New York /
Feb.February 12, 2015 03:40 PM

Ben Ashkenazy’s Ashkenazy Acquisition is asking $30 million for a six-story Midtown commercial building. The 17,000-square-foot property at 433 Fifth Avenue, between East 38th and 39th streets, houses jewelry retailer Prima Donna on the ground floor and five full-floor office suites above it.

An Eastern Consolidated team led by David Schechtman and Lipa Lieberman is marketing the property.

The building could be renovated to hold a multi-level retail space, Schechtman said. The first two floors are already connected by a staircase.

Two of the office floors are vacant, the brokers said. The other three floors are leased at roughly $38 per square feet. Prima Donna’s lease is set to expire by 2019. The retail rent is about $145 per square foot.

Ashkenazy bought the property in 1997 and occupied an office there until 2011, when it moved to 150 East 58th Street.

Just 10 blocks north, Ashkenazy entered contract in December to buy the New York Marriott East Side for $290 million.


Related Articles

arrow_forward_ios
Barneys at 660 Madison Avenue (Credit: Getty Images)

Ben Ashkenazy jacked up the rent to $30M. Now Barneys is weighing another bankruptcy

285 Lafayette Street, Ashkenazy Acquisition's Ben Ashkenazy and Kushner Companies' Charles Kushner (Credit: Google Maps and Sasha Maslov for The Real Deal)

Kushner Cos. pays $39M for Soho retail condo, continuing buying spree

Clockwise from left: Ben Ashkenazy, 711 5th Avenue, Wafra CEO Fawaz Al-Mubaraki, and Nightingale Properties' Elie Schwartz (Credit: Google Maps; Wafra)

Ben Ashkenazy is the secret ingredient in Nightingale, Wafra’s Coca-Cola deal

Barneys at 660 Madison Avenue (Credit: iStock, Google Maps)

After rent hike, Barneys extends credit line

Paradise lost? Ashkenazy deal for Brookfield’s Atlantis resort in the Bahamas falls though

Paradise lost? Ashkenazy deal for Brookfield’s Atlantis resort in the Bahamas falls though

Ashkenazy picks up Sheepshead Bay shopping center for $38M

Ashkenazy picks up Sheepshead Bay shopping center for $38M

Ralph Lauren’s exit at 625 Madison just compounded a big problem for SL Green

Ralph Lauren’s exit at 625 Madison just compounded a big problem for SL Green

Daun and Peter Hauspurg and ABS Partners Real Estate offices at 200 Park Avenue South (Credit: Twitter and ABS Partners)

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

arrow_forward_ios