On the Market: Commercial

Nov.November 04, 2007 08:29 PM

Former Deutsche Bank building for sale
A 30-story, 660,000-square-foot building at 31 West 52nd Street is on the market for sale and is expected to fetch close to $800 million, or $1,100 per square foot, the New York Sun reported. More than half of the former Deutsche Bank building, built in 1985, is leased to the international law firm of Clifford Chance. Jones Lang LaSalle has been retained to market the building.

Self-storage portfolio asking $209M
A self-storage portfolio comprising 11 properties in New York and New Jersey is on the market for sale with an asking price of $208.6 million, GlobeSt.com reported. Known as Storage Post, the properties aggregate 923,700 square feet and are 72 percent leased. The properties include 4077 Park Avenue, 301 Fordham Road and 112 Bruckner Boulevard in the Bronx, and 30-28 Starr Avenue and 48 Metropolitan Avenue in Queens. The sellers are a group of investors called ASP North. Steve Hryszko of CB Richard Ellis and Gerry Trainor of Transwestern are handling the assignment.

Midtown Art Deco building on the block
A 24-story, 282,000-square-foot Art Deco building at 475 Fifth Avenue is on the market for sale, the Sun reported. Located on the corner of 41st Street, across the street from the New York Public Library, the property can be converted into a Class A office building. The Moinian Group bought the building for $160 million late last year. Cushman & Wakefield is handling the assignment.

East Village portfolio on the market
An East Village portfolio of 10 mixed-use buildings is on the market for sale with an asking price of $160 million. The current owners, which include Jonis Realty of Great Neck, purchased the 253,000-square-foot package for about $93.5 million in 2005. The buildings are located at 141, 145, 147, 151, 157 and 156 Second Avenue; 24 St. Marks Place; 111 East 7th Street; 213 East 4th Street; and 244 East 21st Street. Retail tenants include Starbucks, Chase Bank and Max Brenner. Brian Ezratty and Scott Ellard of Eastern Consolidated are handling the sale.

Northern Manhattan portfolio on the block
A 22-building portfolio in northern Manhattan is on the market and could fetch more than $80 million, the New York Post reported. The package includes a 10-story new construction condo at 2301 Second Avenue called the Ivy; the other buildings are walk-ups on 118th Street and in Washington Heights. More than 80 percent of the units are rent-regulated. Massey Knakal is marketing the properties.

Adjacent Dumbo buildings for sale
Two adjacent buildings at 6 Water Street and 32 Pearl Street are on the market with an asking price of $45 million, the Post reported. The low-rise buildings can be vacated by mid-2008, and a buyer could build a 151,000-square-foot mixed-use tower. Another option would be to convert the rental apartment building at 32 Pearl to condos and transfer the air rights to the neighboring structure, which could allow for a 30-story tower. David Johnson and Peter Hauspurg of Eastern Consolidated are handling the sale.

Sunset Park warehouse on the block
A 2.5-story, 120,000-square-foot industrial warehouse at 5726 First Avenue in Brooklyn is on the market with an asking price of $25 million, or $208 per square foot. The property, located at the entrance to the Brooklyn Army Terminal, features a 20-car parking area. Abe Gross and John Reinertsen of CB Richard Ellis are handling the assignment.

Hamilton Heights building asking $24M
A six-story, 71,100-square-foot mixed-use building at 3660 Broadway is on the market for sale with an asking price of $24 million. The elevator building contains 60 residential units and 11 commercial units. Two of the residential units are rent-controlled, 24 are rent-stabilized and 34 are free-market. Robert Shapiro, Shimon Shkury, Victor Sozio and Michael Tortorici of Massey Knakal are handling the sale.

Upper East Side portfolio on the market
Four buildings at the southwest corner of Second Avenue and East 71st Street are on the market with an asking price in the mid-$20 million range. The properties, located at 1343-1347 Second Avenue and 242 East 71st Street, are contiguous five-story mixed-use walk-up buildings totaling 50 residential units and eight stores. The site could support a future ground-up development with 82,100 square feet of residential and 16,400 square feet of commercial space. Brian Ezratty, Deborah Gutoff and Martin Ezratty of Eastern Consolidated are marketing the portfolio.

Soho loft buildings asking $17.5M
Two five-story loft buildings at 65-67 Greene Street are on the market for sale with an asking price of $17.5 million. The properties total 21,321 square feet and have about 25,625 square feet of air rights. The buildings last traded for $11.3 million in early 2006. Robert Burton and Nancy Guo of Massey Knakal are handling the sale.

Related Articles

(Image by Wolfgang & Hite via Dezeen)

Hudson Yards megadevelopment inspires a new line of sex toys

Cammeby's International Group founder Rubin Schron and, from top: 194-05 67th Avenue, 189-15 73rd Avenue and 64-05 186th Lane (Credit: Google Maps)

Ruby Schron lands $500M refi for sprawling Queens apartment portfolio

Wendy Silverstein (Credit: Getty Images)

Wendy Silverstein, co-head of WeWork’s real-estate fund, is out

Burt Resnick

Burt Resnick, who headed major landlord Jack Resnick & Sons, dies

The beach in Tulum, Mexico, and Thor Equities Joe Sitt (Credit: Thor Equities LLC via Bloomberg)

Joe Sitt’s $100M plan for Pablo Escobar’s Tulum compound

Canarsie Plaza and Blackstone’s Kathleen McCarthy (Credit: Google Maps and Blackstone)

Blackstone picks up Canarsie shopping plaza for $130M

Amazon leases nearly 154 million square feet of warehouse space compared to the 4 million square feet it owns (Credit: iStock)

How Amazon became the leasing king of e-commerce

Cushman & Wakefield CEO Brett White and the Oculus (Credit: Cushman & Wakefield and Unsplash)

Cushman’s management contract at Oculus extended despite woes