On the Market

On the Market

Cobble Hill Met Foods Quietly Listed, Receiving $20M-Plus Bids

197 Smith Street.

Met Foods, which has had a history of failed health inspections, has been quietly put on the market, sources told Commercial Observer, and its sale could transform an area with a dearth of big blocks of available space.

The 10,000-square-foot property, at 197 Smith Street, has apparently been receiving bids exceeding $20 million. The new owner could build a 20,000-square-foot property at the site, between Baltic and Warren Streets. Read More

On the Market

GFI Realty Services Asking $2.85M for Williamsburg Residential Property


GFI Realty Services is marketing a four-story, 7,000-square-foot residential building at 377 South 1st Street in Williamsburg for $2.85 million, Commercial Observer has learned.

The property, made up of eight two-bedroom apartments, is two blocks east of the Brooklyn-Queens Expressway and two blocks west of the intersection between Grand Street and Union Avenue, near popular neighborhood hangout Barcade and a plethora of other restaurants and nightlife options. Read More

On the Market

Chinatown Property with Signature Horse Head Hits Market

49 Market Street.

Eastern Consolidated is asking $6.75 million for a two-story Chinatown commercial building and former stable house just one block from the Manhattan Bridge at 49 Market Street, Commercial Observer has learned.

The firm said the 4,400-square-foot building (with approximately 4,000 square feet of unused development rights) is best-suited for “investors seeking in-place tenancy and income,” with the ability to bring it to its full as-of-right potential of roughly 8,400 square feet, or perhaps to use it as a component for a future assemblage with adjacent properties. Read More

On the Market

Seventh Avenue Retail Space Hits the Market for Lease

425-427 Seventh Avenue. (Credit: PropertyShark)

A potential flagship retail opportunity in the shadow of Madison Square Garden is being marketed for lease by Eastern Consolidated, Commercial Observer has learned.

The two-building space, located at 425-427 Seventh Avenue, boasts 2,400 square feet of space on the ground, basement and second levels, with the third and fourth floors potentially available for a total of 12,000 square feet. The entire property is being marketed as a triple-net lease for $1.9 million per year. Read More

On the Market

Rabbi Pinto’s UWS Synagogue Site Hits the Market

240 Riverside Boulevard. (Credit: Keller Williams NYC website)

Ilan Bracha, the founder of Keller Williams NYC, has listed an Upper West Side commercial unit for sale that was supposed to be the home of Rabbi Yishayahu Yosef Pinto‘s Shuva Israel West Synagogue, Commercial Observer has learned.

The space, a 2,786-square-foot unit at Heritage at Trump Place at 240 Riverside Boulevard, is on the market for $1.75 million, according to a listing on Keller Williams’ website. It includes a private entrance on 72nd Street. Read More

On the Market

Mixed-Use Property Near Barclays Center Hits Market at $8M

260 Flatbush Avenue

A Park Slope mixed-use property three blocks from Barclays Center has come on the market for $8 million, Commercial Observer has learned.

The residential and retail property, at 260 Flatbush Avenue, also known as 89-91 Prospect Place, is being exclusively marketed by Eastern Consolidated. The buyer can erect a seven-story addition on top of the existing 3,975-square-foot, one-story structure. Read More

On the Market

Retail Space Up for Grabs at Century-Old Emmet Building

95 Madison Avenue.

Winick Realty Group is marketing a 20,555-square-foot multi-level retail opportunity at 95 Madison Avenue.

In a statement announcing the offering, the firm stated that part of the Emmet Building’s appeal lies in its proximity to notable hotels, retail outposts and residential developments sprouting in the heart of Madison Square’s furniture district. Read More

On the Market

East Village Walk-Up on the Market for $6.7M

234 East 7th Street. (Credit: PropertyShark)

Eastern Consolidated is marketing a 6,486-square-foot walk-up building at 234 East 7th Street in the East Village, Commercial Observer has learned. The asking price for the property is $6.7 million.

Located off of Avenue C, the five-story building boasts 20 apartment units, half of which are rent stabilized. There are currently five apartments available for rent in the building, according to StreetEasy, with rents ranging between $1,650 and $1,695 per month. The property’s fair market units are still priced 10 to 15 percent below market rates, according to the listing broker.  Read More

On the Market

Yeshiva University Sell-Off Continues with Washington Heights Properties


Yeshiva University is reportedly selling 10 apartment buildings in Washington Heights near its Wilf Campus as the debt-ridden school continues its struggle to stay afloat.   

The school’s president, Richard Joel, said that the sale of the buildings, clustered around Amsterdam Avenue and West 185th Street, including 501 West 184th Street, would provide “an infusion of cash that will be used to strengthen our financial position,” in a statement. Read More

On the Market

Socony-Mobil Building on the Market

Socony-Mobil Building. (Credit: PropertyShark)

The Sacony-Mobil Building, a 1.7 million-square-foot office tower at 150 East 42nd Street is on the market, according to Bloomberg News. The building’s owner, Hiro Real Estate, a Japanese investment firm, is asking $900 million for the long-term leasehold.

The building is 90 percent occupied and has two major tenants, Wells Fargo and Mount Sinai Hospital, which each occupy approximately 500,000 square feet. The 42-story tower is located less than a block from Grand Central Terminal. Read More

On the Market

Kips Bay Building Comes to Market Less Than a Year After Last Sale

156-158 East 33rd Street in Kips Bay. (Credit: PropertyShark)

A four-story mixed-use building at 156-158 East 33rd Street in Kips Bay is on the market less than a year after the building last sold. Eastern Consolidated is marketing the property with a $7 million asking price.

The sellers, who declined to be identified, acquired the building in July of last year for $2.42 million and embarked on a complete gut renovation of the building. The sellers planned to flip the building at the time of the acquisition, according to the listing broker. Read More