Brill Building owners list retail condo for $225 million

Price is nearly $40M higher than what the entire building traded for in 2013

New York /
Mar.March 12, 2015 11:05 AM

The owners of the Brill Building, a partnership between Allied Partners and Brickman, are asking $225 million for a four-story retail condo in the Times Square area property, though they acquired the entire building for $185.5 million just two years ago.

The basement-through-third-floor condo encompasses 45,000 square feet of the building’s total 175,000 square feet. The valuable space at 1619 Broadway is located at the north end of Times Square, where retail rents can rise upwards of $2,000 per foot. However, the retail space is now vacant, according to Crain’s.

Allied and Brickman also secured rights for LED signage along the ground floor, which could either be used by a tenant or for outside advertising. JLL’s Ron Cohen and Richard Baxter have been hired to market the property.

The building, constructed in 1931, is famous for being a former music hub where artists like Elvis Presley and Carole King recorded. [Crain’s] — Tess Hofmann

 

Related Articles

arrow_forward_ios
JLL CEO Christian Ulbrich (Getty)

JLL says hasn’t seen “anything worth spending our…money on” after reportedly passing on Cushman

JLL says hasn’t seen “anything worth spending our…money on” after reportedly passing on Cushman
JLL CEO Christian Ulbrich and CBRE CEO Bob Sulentic (Getty; CBRE; Pixabay)

JLL, CBRE keep cutting as recovery drags

JLL, CBRE keep cutting as recovery drags
Brock Emmetsberger, Tom Gammino and Will Suarez (JLL)

JLL makes cuts to I-sales team

JLL makes cuts to I-sales team
The Vitre at 302 East 96th Street with Wonder Works Construction's Joseph Klaynberg and Daniel Klaynberg (Google Maps; Wonder Works)

Wonder Works’ UES condo being shopped at foreclosure sale

Wonder Works’ UES condo being shopped at foreclosure sale
The Real Deal founder and publisher Amir Korangy and Massey Knakal founder Bob Knakal

JLL’s Bob Knakal on the future of New York

JLL’s Bob Knakal on the future of New York
Former JLL employee sues alleging toxic “boys club”

Former JLL employee sues alleging toxic “boys club”

Former JLL employee sues alleging toxic “boys club”
JLL CEO Christian Ulbrich (Ulbrich by Jemal Countess/Getty Images for Women's Forum of New York)

JLL profits halved by pandemic

JLL profits halved by pandemic
(iStock)

Look out below: Major real estate services firms brace for falling earnings

Look out below: Major real estate services firms brace for falling earnings
arrow_forward_ios

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

Loading...