On the market: TRD’s roundup of buildings for sale

May.May 01, 2013 07:00 AM

380 Columbus Avenue

Eastdil’s Harmon tapped to market Time Warner Center

Media giant Time Warner hired Eastdil Secured’s Doug Harmon last month to market its 1.1 million-square-foot Midtown headquarters and determine what it would receive for the building, Reuters reported. The mega-company is reportedly preparing to leave the Time Warner Center or consolidate its more than 4 million square feet of New York City office space. If the company does decide to sell the building, which is located in Columbus Circle, the two-tower complex could command prices of roughly $1,000 per square foot for a total price north of $1 billion, according to the Wall Street Journal. In February, Time Warner had reached out to Eastdil Secured, Jones Lang LaSalle and Studley to aid in the property’s valuation, the Journal reported.

UWS retail condo asking $25M

A retail condo located at 380 Columbus Avenue, directly across the street from the Museum of Natural History, is for sale with an asking price of $25 million. Situated between West 78th and 79th streets, the 11,795-square-foot condo is occupied by two eateries, Ocean Grill and Gazala’s, and a nightclub, 78 Below. The tenants are at the beginning of their respective leases. The condo is on the market for the first time since the building was constructed at the turn of the 20th century. Eastern Consolidated’s David Schechtman, Adelaide Polsinelli, Lipa Lieberman, Abbie Kassin and Gary Meese are marketing the property.

Queens multi-family building on the block

A seven-story apartment building at 56-10 94th Street in Queens is on the market with an asking price of $24.5 million. The 102,390-square-foot elevator building is located between 56th and 57th avenues in the borough’s Elmhurst section. Of the property’s 112 residential units, 12 are studios, 88 are one-bedrooms and 12 are two-bedrooms. The apartments have an average rent per square foot of $19.63, which is approximately 75 percent of market rates, according to the listing. The building has a swimming pool and a 26-car indoor parking garage. Thomas Donovan, Tommy Lin, Eugene Kim and Robert Rappa of Massey Knakal Realty Services are handling the sale.

Brooklyn mixed-use assemblage asking $10M

A package of adjacent lots at 1295-1299 Nostrand Avenue and 306-310 Clarkson Avenue in Brooklyn is on the market with an asking price of $10 million. Located on the southeast corner of Nostrand and Clarkson avenues, the site consists of lots measuring from 3,200 to 20,000 square feet for a total of 36,430 square feet. The properties, zoned for residential or commercial use, have a total buildable square footage of 145,720. CPEX Real Estate’s Brian Leary, Sean Kelly, Matt Dzbanek and Jay Sendogdular are handling the assignment.

East Village apartment building for sale

A six-story walk-up building at 228 Avenue B is for sale with an asking price of $8.9 million. Built in 1900, the 12,613-square-foot property has 21 apartments, nine of which are rent stabilized. With an average monthly rent of $1,648, the residential units consist of one three-bedroom duplex with a usable basement, 10 two-bedrooms and 10 one-bedrooms. The building has two ground-floor retail units of 500 square feet each, which are occupied by custom framing shop 567 Framing and money transfer services provider Franklin Check Cashing. Ronald Cohen and Amit Doshi of Besen & Associates are marketing the building.


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