Helmsley’s death could put properties for sale
The death of Leona Helmsley, who held properties worth at least $2.5 billion, could put some marquee buildings on the market. Helmsley, who died last month at 87, owned the Park Lane Hotel and controlled the Empire State Building. After her husband Harry died in 1997, she sold properties worth almost $5 billion, including towers at 230 Park Avenue and 140 Broadway. After 2000, as her mental capacity began to decline, so did her willingness to sell, and her complex real estate partnerships were difficult to wind down. Her executors are expected to evaluate whether her properties should be sold.
Nymex building could fetch $700M
The New York Mercantile Exchange is fielding offers for its Lower Manhattan headquarters ahead of a deal to sell itself to a rival exchange, the New York Post reported. Nymex is asking between $600 and $700 million for the 15-story, 500,000-square-foot building, which is located at 1 North End Avenue in the World Financial Center. The property may sell for even more than that because it is only 10 years old and has state-of-the-art trading facilities. Potential buyers that have toured the building include Larry Silverstein, Brookfield Properties, Citigroup and Merrill Lynch.
West 57th building may fetch $200M
An 11-story office building at 10-14 West 57th Street is on the market and could sell for up to $200 million because of its redevelopment value, the Post reported. The 84,000-square-foot building could be redeveloped to 113,000 feet with no height restriction. The property used to house Henri Bendel; now Sharper Image and MacKenzie-Childs occupy its retail spaces. Richard Baxter, Ron Cohen, Scott Latham, and Jon Caplan of Cushman & Wakefield are handling the sale.
Chelsea Hotel on the market?
According to a broker, the Chelsea Hotel is likely up for sale and is asking $90 million, Curbed.com reported. The hotel management’s recent discussions with hotelier Andr Balazs, however, suggest the owners may be more interested in feeling out the market than actually selling.
Downtown luxury rental on the block
Family-owned Jakobson Properties is selling a luxury apartment building at 110 Greenwich Street that could fetch $45 million, the Post reported. Converted from a warehouse in 1997, the 66,530-square-foot property totaling 61 rental units is located opposite developer Joseph Moinian’s new hotel on the southeast corner of Carlisle Street. Michael Forrest and David Shorenstein of Marcus & Millichap are handling the assignment.
Seaport loft buildings for sale
Two contiguous four- and six-story loft apartment buildings in the South Street Seaport district are being marketed as a potential site for a conversion project. With 35,628 buildable square feet and 5,000 square feet of ground-floor retail space, 21-23 Peck Slip is up for sale with an asking price of $17.5 million. Brian Ezratty and Martin Ezratty of Eastern Consolidated are marketing the properties.
Flatiron loft building asking $16M
A 12-story, 26-976-square-foot elevator apartment building located in the Flatiron District is on the market with an asking price of $16 million. The property comprises a store on the ground floor and 11 floors of apartments, of which all but the 10th floor are floor-through lofts. Eight of the units are free-market, and four are rent-stabilized. John Ciraulo, Jonathan Hageman, Robert Knakal and Craig Waggner of Massey Knakal are handling the sale.
Bensonhurst commercial property for sale
A commercial condominium with 24,400 rentable square feet on the first and second floors of two attached buildings, 8622 Bay Parkway and 15 Bay 29th Street, is on the market with an asking price of $15 million. The retail frontage along Bay Parkway houses a bank, an organic food store and a medical office. David Schechtman, Eric Anton and Ronald Solarz of Eastern Consolidated are marketing the property.
Bowery development site on the market
The two contiguous buildings at 140-142 Bowery are on the market with an asking price of $14 million. The properties are being marketed as a development or conversion site. The third floor of 140 Bowery and the second and third floors of 142 Bowery are rented to a residential tenant; the ground floor of 142 Bowery is rented to a lighting store. The tenants’ leases expire at the end of 2008. Nancy Guo and Robert Burton of Massey Knakal are the exclusive sales agents.
Development site asking $13.5M
A 30,520-square-foot development site at 84-86 White Street is on the market with an asking price of $13.5 million. The site, which can be developed into a boutique hotel or commercial building, is currently occupied as a commercial parking lot and can be delivered vacant at closing. Brian Ezratty of Eastern Consolidated is handling the sale.