Ashkenazy wants $30M for Fifth Ave. commercial building
Eastern Consolidated marketing property as retail expansion
Ben Ashkenazy’s Ashkenazy Acquisition is asking $30 million for a six-story Midtown commercial building. The 17,000-square-foot property at 433 Fifth Avenue, between East 38th and 39th streets, houses jewelry retailer Prima Donna on the ground floor and five full-floor office suites above it.
An Eastern Consolidated team led by David Schechtman and Lipa Lieberman is marketing the property.
The building could be renovated to hold a multi-level retail space, Schechtman said. The first two floors are already connected by a staircase.
Two of the office floors are vacant, the brokers said. The other three floors are leased at roughly $38 per square feet. Prima Donna’s lease is set to expire by 2019. The retail rent is about $145 per square foot.
Just 10 blocks north, Ashkenazy entered contract in December to buy the New York Marriott East Side for $290 million.