575 Fifth Avenue on the block
Mets owners Fred Wilpon and Saul Katz are selling their 575 Fifth Avenue office tower for a deal that could bring in more than $375 million. The 40-story, 569,000-square-foot Class A high-rise at 47th Street is fully leased to tenants that include Ann Taylor and L’Oreal USA. Darcy Stacom and Bill Shanahan at CB Richard Ellis are marketing the building, The New York Post reported.
Bids due for Javits development site
An entire blockfront next to the proposed Jacob Javits Convention Center expansion and New York Jets Stadium is being sold by broker Eastern Consolidated. The property, at 356-366 10th Avenue, consists of a two-story garage, a five-story walk-up and an undeveloped sliver of land. The site occupies the 131-foot long easterly blockfront between West 30th and 31st and provides for an “as-of-right” development project as well as air rights. Final bids are due by May 11. Ron Solarz, Eric Anton and Paul Nigido are handling the assignment for Eastern.
Silverstein to unload 42nd Street land
A parcel owned by Larry Silverstein on the eastern end of 11th Avenue between 41st and 42nd streets could bring in around $240 million, or $300 a square foot. About 800,000 square feet of development is permitted at the site. Silverstein’s River Place apartment tower is at the western end of the block.
Saks flagship could change hands
Saks Inc., the department store company, has put its regional stores up for sale and is considering selling the Saks Fifth Avenue chain, including the company’s flagship location on 611 Fifth Avenue at 50th Street. Because of the momentum of the luxury market and the value of real estate leases, analysts said the company might bring at least $3 billion, The New York Times reported.
Park Avenue development site for sale
A development site totaling 2,212 square feet on the east side of Park Avenue between East 83rd and 84th streets is on the market for sale. The 985 Park Avenue site allows for a 10-story condo building. The asking price is $6.5 million and the lot is being marketed by Thomas Gammino Jr. of Massey Knakal. Buyer sought for UES walk-ups Two contiguous apartment buildings at 252-254 East 74th Street are being marketed by Massey Knakal. The five-story buildings with a total of 8,580 square feet contain 15 apartments and 2 commercial units. The asking price is $7.95 million.