Florham Park, N.J.-based real estate firm The Klein Group has sold a 25,452-square-foot retail condo at 200 West End Avenue on the Upper West Side, representatives of the seller announced today. The identity of the buyer and sale price were not disclosed.
CVS Pharmacy is the latest tenant to move to the Lower East Side, inking a deal at 42-56 East Houston Street.
The pharmacy chain, whose presence is limited and overshadowed by Walgreens and Duane Reade in the city, will be taking a 10,365-square-foot space that spans the entire block between Mulberry and Mott streets.
CVS Pharmacy has leased a 14,274-square-foot retail condominium space below Alchemy Properties’ Griffin Court Condominium development at 454 West 54th Street, which was also sold to Heskel Group earlier this month, The Commercial Observer has learned.
The 25-year lease includes 9,000 square feet of street level frontage, set below the eight–story residential towers, where 95 condo units that hit the market in 2010 are roughly 85 percent occupied.
The property is located in the Hell’s Kitchen neighborhood, a first for CVS, and in close proximity to the theatre district.