Parking Garage for Sale! Act Now!
Jotham Sederstrom March 3, 2011, 7:21 p.m.
If New Yorkers know anything it’s that finding a parking spot is crucial. And so, when a commercial broker offers the master leases for two retail units on Manhattan’s bustling Third Avenue, it almost goes without saying that a parking garage will be in the offering.
Indeed, brokers at Eastern Consolidated this week announced plans to market a combined 12,618 square feet of retail space at 201 East 25th Street and 200 East 27th Street for an asking price of $11.27 million. The pair of retail assets, now leased to D’Agostino Supermarket, Ricky’s and the Murray Hill Quick Shop, will also be marketed alongside a 78-spot parking garage accessible from East 26th Street, said Eric Anton, who is marketing the space alongside partner Ronald Solarz. (The assets’ price tag includes the garage, and the broker duo was profiled last year in The Commercial Observer.)
Those leases are in play until 2015 for Ricky’s, 2016 for D’Agostino, and 2018 for the Murray Hill Quick Shop, they said.
“Kips Bay is a prime location, highly residential,” Mr. Anton said. “And we anticipate tremendous investor interest for this offering given the area’s heavy pedestrian traffic and the strong retail along Third Avenue.”