Historic Brill Building Retail Goes Up For Sale

Does anyone want a piece of the historic Brill Building?

Mack Real Estate is putting up the 31,000-square-foot retail condo portion of the property near Times Square for sale, according to sources familiar with the matter.

The retail property is 100 percent leased with CVS as its anchor tenant. It features a perk in the form of eight signs wrapped around the building’s facade with a licensing agreement from Clear Channel.

A Newmark team of Adam Spies, Doug Harmon and Adam Doneger is marketing the property.

The 11-story, Art-Deco building was constructed in 1931 and used as a studio for musicians such as Carole King and Neil Diamond.

The building has gone through a series of ownership changes in the last decade. Eric Hadar’s Allied Partners led a group to purchase the Brill Building for $186 million in 2013 with plans to drop tens of millions of dollars in improvements. In 2015, Hadar and Brickman & Associates put the four-story retail condo up for sale for $225 million, hoping to make a larger profit on the retail than from the entire building.

But the owners said they misjudged the retail rents and they never sold the property.

In 2017, the building’s mezzanine lender, Brookfield Properties, took over the entire Brill Building through a foreclosure. Almost five years later, Brookfield’s lender, Mack Real Estate Group, took control of the building again.

Mack did not immediately return a request to comment.