On the Market: Commercial

Properties recently placed on the market

Dec.December 30, 2009 01:37 PM

LES development site on the market

A development site at 57-67 Orchard Street is for sale with an asking price of $25 million. The site includes two block-through lots from Orchard to Allen streets and a corner lot at Orchard and Grand streets. The 57 Orchard Street lot contains a two-story commercial building, while 59-67 Orchard Street has two five-story commercial buildings. The three lots have a combined footprint of 12,172 square feet, and the site’s C6-2G zoning allows for a maximum of 73,281 buildable square feet. Michael DeCheser and Philip Huang of Massey Knakal are handling the sale.

Murray Hill multifamily walk-ups for sale

Two six-story apartment buildings at 326-330 East 35th Street are on the market with an asking price of $24 million. The walk-up properties have approximately 27,504 square feet above grade and contain 59 apartments, of which 55 could be delivered vacant. Three units are rent controlled and one is rent stabilized. The apartments consist of 11 studios, 29 one-bedrooms and 19 two-bedrooms. The properties have 17,646 square feet of unused air rights for future development. John Ciraulo and Michael Azarian of Massey Knakal are marketing the properties.

Midtown East retail building asking $11M

A two-story retail property at 407 Park Avenue is on the market with an asking price of $11 million. The building, located between 54th and 55th streets, has 4,300 square feet above grade and 1,750 square feet in the basement. Italian fashion retailer Stefano Ricci is renting the building through 2019 with annual rent increases of 3 percent until 2014. The site has 29,450 square feet of unused air rights. Adelaide Polsinelli of Marcus & Millichap is marketing the building.

Uptown residential building on the block

A six-story elevator building at 441 Convent Avenue is for sale with an asking price of $9.65 million. The postwar property has 92,000 square feet and contains 90 apartments and a superintendent’s unit. The residential units have seven Section-8 tenants, 68 rent-stabilized tenants and 15 tenants under the Senior Citizen Rent Increase Exemption Program. R. Stuart Gross, Harrison Douglas and Peter Carillo of Eastern Consolidated are handling the assignment.

Hamilton Heights apartment buildings for sale

Two six-story apartment buildings at 402 and 412 West 148th Street are on the market with an asking price of $9.18 million. The prewar properties contain 98 residential units, of which nine are occupied by Section-8 tenants, 10 by rent-controlled tenants, seven by tenants under the Senior Citizen Rent Increase Exemption Program and 72 by rent-stabilized tenants. R. Stuart Gross, Harrison Douglas and Peter Carillo of Eastern Consolidated are handling the sale.

Bronx mixed-use building on the market

A six-story building with a mix of apartments and stores at 1306 Fteley Avenue in the Bronx is for sale with an asking price of $6.35 million. The property consists of 63 apartments and five stores and is located in the borough’s Soundview neighborhood. The prewar elevator building has an average apartment size of 988 square feet. The asking price represents a capitalization rate of 6.24 percent. Marcus & Millichap is handling the assignment.

Midtown commercial townhouse for sale

A commercial townhouse at 10 West 55th Street is on the market with an asking price of $5.75 million. Located between Fifth and Sixth avenues, the four-story building’s ground floor is occupied by a leather goods retailer; the mezzanine level and second floor are also occupied by retail tenants. The 11,082-square-foot townhouse’s third and fourth floors are occupied by owner Aderans America Holdings Inc. and will be delivered vacant. CB Richard Ellis’ private client group is handling the sale.

UWS contiguous apartment buildings for sale

Two contiguous five-and-a-half-story apartment buildings at 103-105 West 105th Street are on the market with an asking price of $4.75 million. The prewar walk-up properties are located on the northwest corner of Columbus Avenue and comprise 20 apartments and approximately 15,976 square feet. The apartments are a mix of one-bedrooms, two-bedrooms and two-bathroom duplexes, with an average monthly rent per unit of $1,574. Michael Besen & Ron Cohen of Besen & Associates are handling the sale.

Compiled by Linden Lim


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