Midtown, downtown office buildings are shopped without brokers

Two office properties, one in Midtown and one downtown, have hit the market sans brokers, the New York Post reported.

Without the help of a marketing firm, brothers Leon and Alfons Melohn are seeking buyers for 180 Water Street, a 24-story, 520,000-square-foot building occupied entirely by the city’s Human Resources Administration. The building could be vacant by 2015 when HRA plans to move to 4 World Trade Center. Still, the brothers are seeking $180 million for the circa-1971 office property.

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Meanwhile, in Midtown, Banco Santander is shopping the 20-story, 110,000-square-foot building at 45 East 53rd Street it developed in 1991. While brokerages are allowed to bring in buyers that would pay their commissions, the building does not have a formal marketing firm. The Post said Savanna Partners and RFR Realty are among dozens of buyers working towards a deal worth $120 million — even though the building lacks retail and has just a single tenant in Banco Santander.

The bank wants to lease the building with the option of buying it back under an agreement that would net the buyer a 5 percent return. [Post, 1st item]