On the Market

On the Market

LES Work-in-Progress 164-166 Attorney Street Hits the Market

164 Attorney Street.

An in-progress development on the Lower East Side at 164-166 Attorney Street, between East Houston and Stanton Streets, is up for sale, Commercial Observer has learned. Ariel Property Advisors expects the building to trade in the low- to mid-$20 million range.

Approved for 22 apartments and a 3,600-square-foot ground-floor commercial space, the seven-story concrete shell is owned and in development by 164 Attorney St. LLC, a private partnership of Lower East Side investors. Ariel has been retained to sell the property, which was purchased in two different transactions, one for $3.5 million in July 2008 and the other in March 2012 for $2.2 million, property records indicate. Read More

On the Market

Delshah Capital Puts Harlem Rental Building on Market, Could Fetch $26.1M

321-323 Lenox Avenue.

Eastern Consolidated has been retained by Delshah Capital as the exclusive sales agent for 321-323 Lenox Avenue in Harlem and one of the building’s brokers thinks the property will sell for more than $26.1 million. Delshah bought it for $11.2 million in February 2012, property records indicate.

The 23,700-square-foot, six-story building on the northwest corner of West 126th Street, has 32 apartments—10 studios, 10 one-bedrooms and 12 two-bedrooms. They are all free-market apartments renovated with condominium-level finishes, said David Schechtman of Eastern Consolidated in a prepared statement. Mr. Schechtman represents Delshah Capital along with colleagues Adelaide PolsinelliLipa Lieberman and Abie KassinRead More

On the Market

City Seeks Developer for Seven-Acre Parcel Near JFK Airport

The seven-acre site referred to as JFK North (NYCEDC's RFEI).

The city is looking for a developer to purchase a fee interest or a long-term lease and then redevelop a seven-acre parcel along the south side of Rockaway Boulevard near John F. Kennedy International Airport.

“This is an ideal location for businesses that benefit from the proximity to JFK International Airport,” according to the New York City Economic Development Corp.‘s recent request for expressions of interest, or RFEI. Read More

On the Market

RadioShack’s 68 NYC Locations Hit the Market

Fulton Street Radio Shack

Following filing for Chapter 11 bankruptcy protection earlier this month, RadioShack, once the world’s largest electronic retailer, has put all of its nearly 70 New York City locations on the market.

Last Monday, RadioShack put its 68 stores in the five boroughs, ranging in size from approximately 1,000 to 3,000 square feet, up for sale. None of the storefronts have been leased yet, according to commercial real estate firm A&G Realty Partners. Read More

On the Market

UES Building Hits Market for $29M

334 East 79th Street.

A multifamily building at 334 East 79th Street between First and Second Avenues has been listed for $29 million, Commercial Observer has learned.

Cushman & Wakefield has been retained by the building’s owner, The Harbor Group, to sell the eight-story property. The 46-unit building has no rent-regulated apartments and the average rent in the building is $2,772, according to C&W. Read More

On the Market

Columbia Taps Winick for Manhattanville Retail


Winick Realty Group is going to grad school.

The trustees of Columbia University have selected the firm to market three retail spaces slated for phase one of the university’s Manhattanville expansion plans, Commercial Observer has learned. The stores, which Winick brokers anticipate will be ready for possession in the fourth quarter of the year, will offer a collective 22,115 square feet of available space on the base of the 450,000-square-foot Jerome L. Greene Science Center on the northwest corner of West 129th Street and Broadway, Winick officials told CO. Read More

On the Market

Clinton Hill Loft Hits Market for $12M, Nearly Five Times Its Last Sales Price

25 Lexington Avenue

The owner of a vacant loft building in the Clinton Hill section of Brooklyn hopes to sell the property for $12 million after purchasing it for $2.5 million five years ago, Commercial Observer has learned.

TerraCRG is marketing the five-story building at 25-27 Lexington Avenue between Grand and Classon Avenues with approved plans in place to convert the empty building into a 23-unit, 30,024-square-foot luxury residential building, said Melissa Warren, a partner at the firm. The neighborhood marked by the Pratt Institute to the north and Barclays Center to the west will warrant the near-fivefold sales price increase, she said. Read More

On the Market

Actually, There Are Three TGI Fridays on the Market

Rendering of 761 Seventh Avenue. (Winick listing)

Commercial Observer reported a week ago that there are two TGI Fridays spaces available for lease, but we have since learned that there are actually three on the market.

Fridays at 761 Seventh Avenue at the corner of West 50th Street has been listed for lease with Winick Realty Group. The building has 6,500 square feet on the ground floor, 6,300 square feet on the second floor and 9,650 square feet on the lower level, according to the online listing. A team led by Jeff Winick started marketing the property this month. The asking rent is $800 per square foot on the ground, $150 per foot on the second floor and $100 on the lower level, said Mark Stempel, the vice president of real estate at the Riese Organization, which owns the license for Fridays in Manhattan. Read More

On the Market

Downtown Brooklyn Development Site Hits Market [Updated]

211-215 Schermerhorn

The owner of a vacant lot in Downtown Brooklyn with potential for development and a premium purchase price has placed the property on the market, Commercial Observer has learned.

Brooklyn developer Nicholas Cammarato bought the 7,556-square-foot lot at 211-215 Schermerhorn Street in 2013 for $16 million, according to property records, but the site might fetch much more this time around in a neighborhood where development site sales are booming. Read More

On the Market

Two TGI Fridays Buildings Hit the Market for Lease [Updated]

TGI Fridays at 34 Union Square East. (Lauren Elkies Schram)

Two East Side buildings that are home to TGI Fridays are available for lease, Cushman & Wakefield announced.

C&W’s Joanne Podell, Ian Lerner, Brandon Singer and Chris Stanton have been appointed as the exclusive leasing agent for the three-story, 12,615-square-foot 34 Union Square East at 16th Street and the six-story, 21,000-square-foot 604 Fifth Avenue between 48th and 49th Streets. Read More

On the Market

Union Square Cafe Space Hits the Market

Union Square Cafe at 21 East 16th Street. (RKF)

The infamous home of Danny Meyer‘s Union Square Cafe has hit the market and is eligible for possession in March, according to newly released marketing materials from RKF.

Union Square Cafe, at 21 East 16th Street between Union Square West and Fifth Avenue, is shuttering due to rising rents commanded by landlord David Ellis RE, as has been widely reported. That is a problem that has been impacting restaurants at all price points, as Commercial Observer previously covered.  Read More

On the Market

Kardashians’ Dash Boutique Dashing Out of Soho?

119 Spring Street.

After four years, the future of the Kardashian sisters’ designer boutique Dash at 119 Spring Street in Soho is up in the air.

The co-op unit that Kourtney, Kim and Kloe Kardashian lease on a month-to-month basis for Dash has hit the market for lease at $1.4 million per year, according to one of the listing brokers, Douglas Elliman‘s Adam Kramer. Read More

On the Market

Controversial Bushwick Rental Building Hits the Market for $81.5M

Colony 1209. (Spruce Capital's website)

Colony 1209, an 127-unit Bushwick rental apartment building that opened earlier this year at 1209 Dekalb Avenue, has hit the market for $81.5 million, according to marketing materials from Massey Knakal Realty Services.

The five-story building, which is between Bushwick and Evergreen Avenues and was bought by Spruce Capital Partners for $58 million in April, has been dubbed the “most controversial building in Bushwick,” according to Bushwick Daily. Read More