Grace’s Marketplace family buys Carnegie Hill retail for $30M

Citibank branch occupies ground floor of Tamarkin-developed condo building

TRD New York /
Apr.April 03, 2015 10:15 AM

The Doria family picked up a retail condominium at the base of a 10-story Carnegie Hill building for $30 million, The Real Deal has learned.

The founders of the gourmet grocery store Grace’s Marketplace added to their retail portfolio with a roughly 8,000-square-foot space at 1273-1281 Madison Avenue, also known as 47 East 91st Street, according to sources familiar with the deal. Madison Capital, led by Richard Wagman and J. Joseph Jacobson, and equity partner Prudential Real Estate Investors owned the unit, which is fully occupied by a Citibank branch.

Moshe Majeski of the Moshe Group represented both the buyer and the seller. Majeski declined to comment, while the buyer’s attorney Philip Bornstein could not be reached.

The condo last sold for $20.3 million in 2013, as TRD reported.

In 2004, Cary Tamarkin’s the Tamarkin Company finished developing the roughly 44,000-square-foot residential condo building, which has seven full-floor units and a duplex penthouse.

Local community activists, including Woody Allen, had protested Tamarkin’s plans to develop a 17-story condo building, leading him to build a smaller version.

In February, the Dorias closed on a retail space at a 12-story building at 261 Broadway in Tribeca.


Related Articles

arrow_forward_ios
Simon Property Group’s David Simon (Simon by Mireya Acierto/Getty Images; iStock)

Simon Property Group sues Gap for $66M in unpaid rent

Simon Property Group sues Gap for $66M in unpaid rent
The Papaya King at 179 East 86th Street (Google Maps)

Papaya King vs. the pretender: Iconic hot dog chain in ownership dispute

Papaya King vs. the pretender: Iconic hot dog chain in ownership dispute
Barry Sternlicht and (from top) Capital Mall in Washington, Franklin Park Mall in Ohio and Plaza West Covina Mall in California (Credit: Capital via Starwood, Franklin via OCP Contractors)

Competing bids for Starwood’s suffering retail

Competing bids for Starwood’s suffering retail
Pier 1 CEO Robert Riesbeck (Credit: Joe Raedle/Getty Images)

Cast away: Pier 1 to liquidate assets, shutter business

Cast away: Pier 1 to liquidate assets, shutter business
Even as the economy begins to reopen, many restaurant and cafe tenants like Chipotle and Starbucks are requesting rent reductions amid projected declines in revenue. (Photos by Roy Rochlin/Getty Images and Alex Tai/SOPA Images/LightRocket via Getty Images)

Major restaurants and cafes seek rent cuts, irking landlords

Major restaurants and cafes seek rent cuts, irking landlords
J.C. Penney CEO Jill Soltau (Credit: Justin Sullivan/Getty Images)

J.C. Penney to close 242 stores in bankruptcy restructuring

J.C. Penney to close 242 stores in bankruptcy restructuring
Pedestrians on Russell Street in the popular shopping district of Causeway Bay in Hong Kong in 2019 (Credit: Anthony Wallace/AFP via Getty Images)

Rents along Hong Kong’s top retail stretches are crumbling

Rents along Hong Kong’s top retail stretches are crumbling
Gap CEO Sonia Syngal said the company plans to reopen with fewer Gap brand stores (Credit: Syngal via Marc Piasecki/Getty Images; Cindy Ord/Getty Images)

Pandemic kills some retailers, but others could reboot

Pandemic kills some retailers, but others could reboot
arrow_forward_ios

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

Loading...