Portion of Plaza for sale
The new owner of the Plaza Hotel, Elad Properties CEO Miki Naftali, is seeking to sell all or a portion of his stake in the 300-room hotel to a luxury brand. He paid $600 million for the hotel and plans to spend another $300 million on renovations to it and the 150 condominiums Elad is creating. According to Real Estate Investment & Finance, Naftali has reached out to various potential buyers, including Prince Alwaleed bin Talal, a partner in the Plaza’s former ownership structure.
River Terrace on the block
The 41-story apartment tower at 515 East 72nd Street is on the market and could fetch $400 million, the Post reported. Macklowe Properties developed the 410-unit building in the mid-1980s. It also features 100,000 square feet of retail space, and is being marketed by Douglas Harmon of Eastdil.
Related unloading two buildings
In what could become the neighborhood’s first conversion from rentals to condos, The Related Companies is selling its Parc Place rental building in Battery Park City. The 23-story, 305-unit tower at 225 Rector Place could sell for $150 million. On the Upper East Side, Related is selling its 10-story, 95-unit Columbus Green. The rental building, at 101 West 87th Street, could sell for $50 million. Douglas Harmon of Eastdil is handling both assignments, the Post reported.
Midtown loft building prime for conversion
A six-story, 31,000-square-foot commercial loft building located at 307-311 East 53rd Street is on the market for $19.25 million. There are four tenants in the building, and a vacant fifth floor. The building, being marketed by Massey Knakal, could become a residential loft condo conversion.
Development site available in Chelsea
A commercial development site at 132-142 West 27th Street, currently being used for a parking lot, is on the market for $17.5 million. The site could be the future location of an approximately 118,500-square-foot commercial building or hotel, and is being marketed by Massey Knakal.
Downtown Brooklyn site hits market
A development site located at 418-430 Albee Square in Downtown Brooklyn is on the market for $17.5 million. The property, close to trains, buses and bridges, has a 17,624-square-foot footprint and offers approximately 211,488 buildable square feet. Massey Knakal is marketing the property, and said there is good potential for ground-floor retail.
Development site offered in Williamsburg
A development site in Williamsburg is on the market for $12.5 million. The 68-74 South 4th Street address offers an approximately 41,000-square-foot footprint and approved changes will allow for up to 90,200 square feet of residential development, according to Massey Knakal, which is marketing the property.
Former riding academy for sale
The Claremont Riding Academy at 173-77 West 89th Street is up for sale, which may mean the end of the oldest continuously operated horse stable in the country. Built in 1892, the four-story, 39,925-square-foot stable is now owned by the family of Paul Novograd. The asking price is $10.9 million. Massey Knakal is marketing the property, the Post reported.
Tribeca development site on block
An 11,670-square-foot development site at 91-95 Chambers Street is on the market. The site presently consists of a one-story building with parking lot, and an adjacent five-story building. The property is a prime development opportunity with a retail component fronting on Chambers Street. Eastern Consolidated is marketing the site.