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On the Market

On the Market

Bay Ridge Medical Office Building Asking $8.1M

9020 Fifth Avenue (Brooklyn)

Marcus & Millichap has placed a 24,829-square-foot medical office building in the Bay Ridge section of Brooklyn at 9020-9024 5th Avenue on the market with an asking price of $8.1 million, or $326 per square foot, Commercial Observer has learned.

The building includes a parking garage, an anchor tenant in Mount Sinai Hospital’s New York Eye & Ear Infirmary and 16,265 square feet of unused space, and it sits five blocks from the 86th street retail corridor. Read More

On the Market

Former Bank Building in W’burg Asks $35M

525 Broadway.

The owner of the former Lincoln Savings Bank branch in Williamsburg has put the property on the market for $35 million, Commercial Observer has learned.

The building, at 525 Broadway on the northeast corner of Boerum Street and Broadway, is comprised of a 60,300-square-foot office building with an additional 13,000 square feet of parking. It can accommodate approximately 189,150 buildable square feet. The private owner purchased the building, which has 400 square feet of frontage wrapping around Broadway and Boerum Street, for $13.4 million in 2007, property records indicate. Read More

On the Market

The Marble Beauty: Inside a Renovated Midtown East Gem

4 East 43rd Street.

As the crowds surged between Bryant Park and Grand Central Terminal just before the evening rush hour yesterday, officials with Mr. Von Pok Inc. invited Commercial Observer on an exclusive tour of the eight-floor marble building at 4 East 43rd Street that sticks out in this area of skyscrapers.

VPC Tower owner Omega Chang showed off the renovation that’s turned a once-neglected gem set off by cherubim, crests and columns into a prime retail and office opportunity in one of the city’s most bustling neighborhoods. Read More

On the Market

South Williamsburg Property Asking $7.25M

340 Wythe Ave

TerraCRG is marketing an L-shaped parcel at 340 Wythe Avenue that’s one block from the 2,200-unit former Domino sugar factory development site and on the same block as the new Vice Media headquarters, Commercial Observer has learned.

The warehouse boasts 17,200 buildable square feet in a neighborhood that’s added over 10,000 luxury units since the 2005 rezoning of the area and has over 5,800 more high-priced apartments in the works, said TerraCRG Senior Vice President Melissa DiBella Warren. Read More

On the Market

Eastern Consolidated to Lease Marble Beauty in Midtown East

4 East 43rd Street.

Eastern Consolidated has been tapped to lease out a six-floor marble building just a block east of Bryant Park at 4 East 43rd Street, Commercial Observer has learned.

The landlord recently completed a multi-year renovation on the building near Grand Central Terminal that offers a prime retail opportunity, said Alexander Hill, the Eastern Consolidated broker with the exclusive listing. Read More

On the Market

Penthouse Office at 277 Park Ave Hits the Market

277 Park Avenue.

For the first time in half a century, the 50,000-square-foot duplex penthouse office at 277 Park Avenue is available for lease, Commercial Observer has learned.

The space, located on the 49th and 50th floors of the building, has been occupied by Continental Grain Company, which is consolidating operations and moving to the General Motors Building. Asking rent for the space is $125 per square foot and occupancy is expected for the first quarter of next year. Read More

On the Market

Chelsea Arts Tower Developer Taps Lee & Associates for New Office Condo

Chelsea Development Group

Luxury commercial condo developer Jack Guttman is working through the design stages of an office condo in a Far West Side lot that’s at 630 West 52nd Street and 700 12th Avenue, the property’s leasing agents, Lee & Associates, announced today.

The eight-floor, 200,000-square-foot structure by the Chelsea Arts Tower owner and Kossar + Garry Architects will feature ground-floor retail, space for television studios on the second and third floor and offices up to a terraced seventh floor, which will be topped off with an event space, said Lee & Associates‘ exclusive broker for the site, Alan Weisman. Read More

On the Market

Marcus & Millichap Lists $14.5M East Williamsburg Loft Apartment Building

60 Stagg Street

Marcus & Millichap is asking $14.5 million, or $450 per square foot, for a 25-unit, 32,228-square-foot converted loft rental apartment building at a former factory at 60 Stagg Street in East Williamsburg, Brooklyn, Commercial Observer has learned.

Shaun Riney, James Saros, and Michael Salvatico of Marcus & Millichap’s Brooklyn office are marketing the 1950 structure near that changed into residential units of 710 to 1400 square feet roughly ten years ago. Read More

On the Market

Brodsky Organization Announces Retail Space Availability at 1156 Madison Avenue

Venture Stationary at 1156 Madison Avenue. (PropertyShark)

The Brodsky Organization has announced the availability of 3,000 square feet of ground-level retail space at 1156 Madison Avenue, between 85th and 86th Streets, Commercial Observer has learned.

Asking rent for the space, which includes an additional 1,300-square-foot cellar is $450 per square foot, according to Alexander Brodsky, a principal of the Brodsky Organization, who is handling the leasing assignment. The space will be available October 1. Read More

On the Market

Boerum Hill Condo Property on the Market for $7.5M

401 State Street

A seven unit, 16,250-square-foot condominium development at 401 State Street in Brooklyn’s leafy Boerum Hill neighborhood has hit the market with an asking price of $7.5 million, Commercial Observer has learned.

Brooklyn developer Martin Handler plans to convert the existing three-story, residential-zoned building that once housed a substance abuse home into luxury apartments with a possible daycare facility or other community use in the basement, said TerraCRG partner Melissa DiBella. Read More

On the Market

Colliers Fielding Suitors for Grand Central Plaza

622 Third Avenue.

The Cohen Brothers Realty Corporation tapped Colliers International to fill 200,000 square feet of space at Grand Central Plaza at 622 Third Avenue, Commercial Observer has learned.

The vacant space on floors seven through 11 and in the former Blue Cross building’s tower already attracted interest from a fashion company, a publishing company, an accounting firm, a consulting firm and two software companies, said Robert Tunis, the Colliers broker who is marketing the space along with colleagues Alex Jinishian, Seth Hecht and Eric Ferriello. Read More

On the Market

Eagle Provisions Company Building Listed for $9M in Slope South [Updated]

626-630 Fifth Avenue

Park South Slope beer and foods favorite Eagle Provisions Company’s building at 626-630 Fifth Avenue is available fully vacant to any buyers willing to pony up $9 million for the potential development site, Commercial Observer has learned.

Marcus & Millichap is marketing the three-floor, 17,000-square-foot retail and residential building that can expand its current 9,500 square feet of residential space by 5,500 square feet under current zoning rules, said Jakub Nowak of Marcus & Millichap. Read More

On the Market

LargaVista and Related Seek ‘Gateway to Soho’ Tenants

300 Lafayette

LargaVista Companies and Related Companies showed off the green-laden and glassy designs for their planned seven-story, 83,000-square-foot retail and office building coming to 300 Lafayette Street in Soho at a party for brokers on the site last night.

Architect Rick Cook of Cook + Fox Architects presented his Landmarks Preservation Commmision-approved plans which will incorporate a three-floor prime retail space and 11,500-square-feet of outdoor garden terraces at the event sponsored by CBRE, the building’s leasing agent. Read More