Renderings

Revealed: Images, Prices of Retail Space Next to Whitney

Rendering of the retail space at 935 Madison Avenue

Renderings have been unveiled for a roughly 14,000-square-foot Madison Avenue retail space next to the Whitney Museum of American Art.

The project, still under construction at 935 Madison Avenue, is part of a renovation of a historical 1876 property on 74th Street. The retail portion includes roughly 7,200 square feet on ground floor and 7,100 on the lower level, said Isaacs & Co.’s Joel Isaacs, who is marketing the retail space with colleague Josh Lewin. It will have over 100 feet of frontage on Madison Avenue. Read More

On the Market

Related Residential Building ‘The Monterey’ Could Fetch $300 M.

The Monterey (Credit: Related)

Related is selling The Monterey, a posh Upper East Side luxury apartment building at 175 East 96th Street, The Commercial Observer has learned.

Sources familiar with the offering said the company hopes to score bids in the $250 to $300 million range for the 29-story tower, which means the firm could snag nearly $575,000 for each of its 522 units.

The announcement came as a surprise to some, as Related built the building in 1993 and has a reputation for hanging on to things.

“I think everybody is surprised when related sells something… they are predominately long-term holders,” the source said.  “But I always say that even the best gardens need pruning once in a while, and once every couple of years they sell an asset.” Read More