Bertelsmann Building could fetch $1 billion
German-owned Paramount Group has retained Douglas Harmon of Eastdil to sell the 44-story, 1.1-million-square-foot 1540 Broadway. The building serves as the American headquarters of Bertelsmann, BMG Entertainment, Planet Hollywood, and Virgin Megastore. The tower could trade for as much as $1 billion, or about $830 a square foot, the New York Sun reported.
Former Knickerbocker Hotel could trade for $300 million
The former site of the Knickerbocker Hotel at 6 Times Square could trade at a price in excess of $300 million. Douglas Harmon of Eastdil is exclusively representing the seller, GlobeSt.com reported, though the 16-story office building is not officially on the market.
Midtown retail condo to be sold
The 80,734-square-foot retail condominium at 717 Fifth Avenue is being offered for sale to a foreign investor, the Sun reported. It may fetch close to $270 million. The space on the ground and first three floors is currently owned by Lloyd Goldman’s BLDG Management, the Feil Organization, Stanley Chera, and other investors.
Midtown building could fetch $250 million
The Fred F. French Building at 551 Fifth Avenue is headed to the sales market. The 39-story commercial building could command a price of between $200 and $250 million, according to the New York Post. An investment group including Jeffrey Feil, Lloyd and Jane Goldman, Tony Malkin, and Stanley Chera has hired Douglas Harmon of Eastdil to start marketing the tower.
Citibank to sell Tribeca loft building
Citibank announced plans to sell its 11-story, 363,000-square-foot loft building at 250 West Street, which is also known as 34 Hubert Street. The property is being marketed for conversion into 250 residential condominiums. Industry insiders expect the property to sell for about $150 million, the Sun reported.
Massive residential portfolio hitting the market
A portfolio of residential buildings dubbed “Critical Mass: The Urban Collection” is coming on the market through Woody Heller’s Capital Transactions Group at Studley and could fetch as much as $100 million, the Post reported. The 19 buildings in Inwood, Washington Heights, and the Bronx total 891 units. All are rent-stabilized except for 33 rent-controlled apartments.
Marine Park Garden portfolio for sale
A 12-building, 146-unit rental apartment complex across from Brooklyn’s Marine Park is on the market with an asking price of $40 million. Joseph Ashkenazi of Massey Knakal is the exclusive sales agent.
Battle looms over West Village warehouse
One of the last large development sites in the West Village is on the market, setting the stage for another showdown in that neighborhood between preservationists and developers, New York magazine reported. The warehouse at 775 Washington Street is asking $32 million, and a developer is reportedly close to making a deal on it. Whomever buys the building will be allowed to go up an additional 80 feet. Peter McCuen and Jim St. Andre are the listing brokers.
Brownsville residential development site on the block
Approximately 140,000 square feet of land in the Brownsville section of Brooklyn is on the market for $30 million. Proposed zoning will allow for 420,000 square feet of development. Ren Santiago, Brian Leary, and Shimon Shkury of Massey Knakal are the exclusive sales agents.
West Side mixed-use building on the market
The 13-story residential building at 440 West 41st Street, which has 96 residential apartments and 22 commercial units, is on the market for $26 million. John Ciraulo and David Kalish of Massey Knakal are the exclusive sales agents.
Garages in West 30s on the block
Eastern Consolidated’s Brian Ezratty is marketing for sale the garage at 63-67 West 35th Street, which can support up to 111,000 square feet of residential development, as well as the neighboring parcel of land at 57-61 West 35th Street, which can support a 50,000-square-foot hotel. Ezratty is also selling a garage at 38-46 West 33rd Street, which can support 100,000 square feet of residential development, Real Estate Weekly reported.