On the Market: Commercial

Nov.November 20, 2007 03:11 PM

Chelsea conversion site for sale
An investment company has been retained by the nonprofit Covenant House to market the 185,000-square-foot building at 346 West 17th Street, according to the New York Sun. The 11-story building, which previously served as a shelter, was once part of the National Maritime Union Building. It will be delivered vacant and may fetch close to $120 million. Many investors would likely convert the property into a residential condominium.

Fifth Avenue buildings on the market
A package of Fifth Avenue buildings and the air rights between them could go for as much as $80 million, the New York Post reported. Clothier Benetton is selling the former Scribner’s bookstore building at 597 Fifth Avenue and a building at 3 East 48th Street. Between the two is 50,000 square feet of air rights, which can be sold along with either building. Nat Rockett and Mark Marasciullo of Jones Lang LaSalle are the sales agents.

Gramercy rental on the block
The nine-story, 33,732-square-foot apartment building at 144-146 East 24th Street is on the market at an asking price of $30 million. Of the building’s 34 units, 18 are free-market, 15 are rent-stabilized, and one is rent-controlled. The property also has a penthouse and 17,616 square feet of additional developable air rights. Massey Knakal’s John Ciraulo and Craig Waggner are handling the sale.

Lower East Side rental for sale
A seven-story, 29-unit apartment building at 110-114 Ridge Street is for sale at an all-cash asking price of $18.75 million. The newly constructed building, known as the Coda, also has 1,000 square feet of street-level retail space. Peter Hauspurg, Ronda Rogovin, and Deborah Gutoff of Eastern Consolidated are marketing the property.

Gotham Court for sale
Gotham Court, a block-through 32,946-square-foot apartment complex comprising two stand-alone, newly constructed buildings, is on the market with an asking price of $17.95 million. Together, the five-story 152 Ludlow Street and the seven-story 149-151 Essex Street house 22 free-market units and three street-level retail stores. Eastern Consolidated’s Ronda Rogovin is exclusively marketing the property.

Former Upper East Side school building on the block
The vacant five-story, 44,000-square-foot former school building at 2269-2275 First Avenue is for sale at an asking price of $15 million. The building, also known as 340-346 East 117th Street, has approximately 31,500 square feet of unused air rights. Eastern Consolidated’s Ronda Rogovin, Eric Anton, and Ronald Solarz are marketing the property.

Brooklyn retail building for sale
The retail building at 2007-11 86th Street in Brooklyn, home to a Rite Aid, is asking $11.5 million. Timothy King and Stephen Palmese of Massey Knakal are the sales agents.

Upper West Side rental on the market
ABS Partners Real Estate was appointed to exclusively obtain bids for the possible sale of the 16-story residential property at 240 West End Avenue. The building has 15 market-rate units, 45 rent-stabilized units and four rent-controlled units.

Queens waterfront site for sale
A waterfront site in Flushing that can support 393,000 square feet of residential or 552,000 square feet of commercial development is on the market through Besen & Associates. Adelaide Polsinelli and Laurence Ross are exclusively representing the property.

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