Macklowe’s Midtown towers for sale
The seven former Equity Office buildings that Harry Macklowe bought for $7 billion last year have started hitting the market. Eastdil Secured is marketing the 1.76 million-square-foot 1301 Sixth Avenue, also known as the Credit Lyonnais Building. Richard Baxter, Ron Cohen, Scott Latham and Jon Caplan of Cushman & Wakefield are marketing the two smallest of the Macklowe-Equity buildings as a package: The price tag for 850 Third Avenue and the Park Avenue Tower at 65 East 55th Street could be $1 to $1.2 billion, the New York Post reported. Deutsche Bank is offering financing for the properties.
Midtown office towers on the market
A 42-story, 400,000-square-foot office building at 1450 Broadway is on the market and could sell for around $200 million, or $500 per square foot, the Post reported. The tower is owned by Joseph Moinian of the Moinian Group, which purchased it for $124 million in 2004 from Murray Hill Properties and ING Realty Partners; Joseph Chetrit and Edward Minskoff are partners in the property. The joint venture is also looking to sell a 45-story, 1.2 million-square-foot tower at 500-512 Seventh Avenue for an undisclosed amount. Douglas Harmon of Eastdil Secured is marketing both properties.
UES mansion on the block
A five-story, 22,000-square-foot former art gallery at 22 East 71st Street is on the market with an asking price of $75 million, the New York Times reported. Though the Salander-O’Reilly Galleries had seven years remaining on the lease, the tenant was expected to give up the property at the end of April. The upper floors of the 45-foot-wide mansion were recently used for offices. The property features an additional 13,000 buildable square feet. A $75 million sale would equate to the highest price ever for a mansion in Manhattan. Serena Boardman and Meredyth Hull Smith of Sotheby’s International Realty are handling the sale.
Midtown office building for sale
A five-story, 33,340-square-foot office building at 233-239 West 54th Street is on the market and could trade in the mid-$60 million range, the Post reported. The vacant property, owned by Joseph Moinian, has 80 feet of sidewalk frontage and can support a 23- to 27-story development of up to 120,495 square feet. The current zoning permits apartments, offices, retail, a hotel or some combination of them. Ron Cohen, Richard Baxter, Jon Caplan and Scott Latham of Cushman & Wakefield are handling the assignment.
Tribeca portfolio on the market
Three mixed-use buildings in the Tribeca East Historic District are on the market with an asking price of $45 million. The properties include a six-story, 20,200-square-foot building at 76-78 Leonard Street; a six-story, 26,815-square-foot building at 80-82 Leonard Street; and a five-story, 20,700-square-foot building at 79-81 Worth Street. The site permits a residential development with 13,886 buildable square feet of air rights. The ground floor and most of the below-grade spaces are leased until 2046 at submarket rents, but all upper-floor residential units will be delivered vacant. Brian Leary of Massey Knakal is marketing the properties.
Chelsea development site on the block
A development site at 39-41 West 23rd Street is on the market with an asking price of $45 million. The property, located in the Ladies’ Mile Historic District, can support a 25-story tower. The owner has secured a change for the site from commercial to residential use, allowing a developer to build a hotel, a residential condo or a mixed-use project. John Ciraulo, Jonathan Hageman, Robert Knakal and Craig Waggner of Massey Knakal are handling the sale.
Bronx waterfront development site for sale
A 133,700-square-foot development site at 101 Lincoln Avenue, in the Port Morris section of the Bronx, is on the market with an asking price of $43.5 million. The property includes an L-shaped warehouse building with a connected two-story office building. The zoning permits a residential, commercial or manufacturing development ranging from 670,000 to 870,000 buildable square feet, depending on the type of project. Thomas Donovan and David Simone of Massey Knakal are handling the assignment.