The Real Deal New York

On the market

Commercial properties recently placed on the market
By Linden Lim | December 01, 2012 07:00AM

Meatpacking District’s Milk Building could fetch $300 million

Stellar Management founder Laurence Gluck is preparing to sell the Milk Building, a 281,000-square-foot office property bordering the High Line, he said last month while speaking at the Young Jewish Professionals real estate summit at Cooper Union. Gluck, one of the city’s biggest landlords, has enlisted the help of commercial brokers Doug Harmon and Adam Spies of Eastdil Secured to sell the property, which will likely come to market next year. Sources told The Real Deal that the building at 450 West 15th Street could trade for up to $300 million. Gluck purchased the eight-story Meatpacking District property for $161 million in 2008, according to public records.


Tribeca mixed-use loft building on the block

A six-story mixed-use property at 13-17 Laight Street is on the market with an asking price of $60 million. Also known as 52-58 Varick Street and 20-2 St. John’s Lane, the 80,000-square-foot loft building occupies the entire blockfront on Laight Street between Varick Street and St. John’s Lane. The elevator building has three retail tenants on the ground floor, one of which is Tribeca Cinemas, and 22 mixed-use tenants above. Nine of the upper-floor units are residential, with one rent-stabilized tenant among them. The property is being marketed co-exclusively by Eastern Consolidated’s Roberto Ortiz and DY Realty Services’ Aaron Grumet.


Bushwick converted warehouse building asking $20 million

A 19th-century warehouse at 260 Meserole Street in Bushwick that was converted into a beer hall and entertainment venue is on the market with an asking price of $20 million, the New York Observer reported. The five-story red-brick building is occupied by a brewery known as the Well, a performance space called the Wick, music-supply retailer Bushwick Supply and music studio Danbro Studios. The 72,000-square-foot property also has vacant spaces that are expected to be filled by a pizzeria and possibly a hostel or hotel, according to the paper. Halstead Property’s Eric Karmitz, John Goldman and Tito Ghose are marketing the building on behalf of the owner, Danenberg Brothers.


Greenwich Village townhouse on the market

A five-story townhouse at 27 East 11th Street is on the market with an asking price of $11.95 million. The 7,050-square-foot property, located between University Place and Fifth Avenue, is currently configured as four free-market units but remains vacant. Originally built in 1844, the Greek Revival structure has high ceilings on the parlor and garden floors. The owner has begun restoring the building. Massey Knakal’s James Nelson, Mitchell Levine, Caroline Hannigan, Matthew Nickerson and Matt Bowman are marketing the property.


Astoria medical office building for sale

A two-story medical office building at 23-22 30th Avenue in Astoria is for sale with an asking price of $5.8 million. The 9,540-square-foot property, built in 1930, underwent a gut renovation in 1999, which included the installation of a full-service radiology unit in the basement. The building is fully occupied with medical tenants Metropolitan Specialty Physicians, a radiology office; Mahmoud and Tsioulias M.D., an oncology office; Dr. Panagitotis Manolas, a surgeon; and internists Gustavo Depetris M.D. and Richard Desmond M.D. The building is located one block from Mount Sinai Medical Center, the hospital the tenants are affiliated with. Rolfe Haas of Besen & Associates is marketing the property.