On the Market: Commercial

October 30, 2007 01:14PM

Offers due for Stuyvesant Town, Cooper Village
Offers were due on Oct. 5 for Stuyvesant Town and Peter Cooper Village, the 11,232-unit package being sold by MetLife. Potential buyers include the Lefrak Organization, the Related Companies, Starwood Capital Group and ING Clarion. Because the deal is likely to require as much $1.5 billion in equity, the buyer will probably be a joint venture, the New York Times reported. Darcy Stacom of CB Richard Ellis is marketing the properties.

5 Times Square back on the market
Five Times Square is back on the market and could sell for more than $1.25 billion, the New York Post reported. Boston Properties, the real estate investment trust led by Mort Zuckerman, tried this past spring to sell the 39-story, 1.1-million-square-foot skyscraper in a package deal with 280 Park Avenue to Dubai-based Istithmar, but that deal fell through. Eastdil Secured is marketing 5 Times Square.

Fashion District buildings could fetch $55M
Two office buildings, located at 252 West 37th Street and 256 West 38th Street, are expected to sell for $55 million, GlobeSt.com reported. The 252 West 37th Street building is 18 stories and has 148,766 square feet; 256 West 38th Street is 14 stories and has 104,350 square feet. The exclusive sales agents are Kenneth Zakin and Randall Liberman of Newmark Knight Frank.

Murray Hill apartment building for sale
The nine-story, 75-unit apartment building at 7-9 East 32nd Street is on the market with an asking price of $30 million. The 34,394-square-foot building has 14,981 square feet of air rights and can be converted into a condominium or operated as a rental. One of the units is rent-stabilized; the other 74 are free-market. John Ciraulo, Craig Waggner and Lawrence Norman of Massey Knakal are marketing the property.

Upper East Side apartment building on the block
The five-story, 16-unit building at 38-40 East 72nd Street is on the market with an asking price of $26 million. The 16,186-square-foot building will be delivered vacant except for four rent-stabilized units. Paul Massey, Guthrie Garvin and Jonathan Hageman of Massey Knakal are the sales agents.

33rd Street housing portfolio asking $17.6M
The 33rd Street Apartment Portfolio, which comprises 66 units in four properties, is on the market with an asking price of $17.6 million, or $266,667 per unit. The properties are located at 243 East 33rd Street, 244 East 33rd Street, 247 East 33rd Street and 333-335 East 33rd Street. Peter Von Der Ahe and Joseph Koicim of Marcus & Millichap are representing the seller, a family based in New York City.

Long Island City conversion option on the block
The four-story industrial building at 35-11 9th Street and the 5,000-square-foot parking lot down the block at 35-31 9th Street are on the market with an asking price of $14.7 million. The building has a 42,000-square-foot footprint and can be converted to residential. The parking lot can support 6,250 square feet of residential development. Alfonso Holloman and Evan Daniel of Massey Knakal are the exclusive sales agents.

Upper West Side co-op asking $13.75M
The 11,275-square-foot commercial co-op that occupies the entire ground floor of 257 Central Park West, also known as 2 West 86th Street, is on the sales market with an asking price of $13.75 million. It is currently configured as medical suites. Meyrick Ferguson and Paul Smadbeck of Massey Knakal are the exclusive sales agents.

Midtown commercial building for sale
The eight-story commercial building at 17 East 47th Street is on the market with an asking price of $13 million. The 19,425-square-foot property currently houses the Mercantile Library on the first five floors and can be delivered vacant. Zoning allows for 37,500 square feet of development. Paul Smadbeck and Mark Spinelli of Massey Knakal are the exclusive sales agents.

Manhattan Valley apartments on the block
The five-story, 18-unit apartment building at 69 West 107th Street is on the sales market with an asking price of $11.25 million. All the units are rent stabilized, and the building also has one store. Meyrick Ferguson, Karen Shulman and Hall Oster of Massey Knakal are the exclusive sales agents.