The Klein Group Sells Upper West Side Retail Condo
Gus Delaporte Nov. 7, 2013, 12:30 p.m.
Florham Park, N.J.-based real estate firm The Klein Group has sold a 25,452-square-foot retail condo at 200 West End Avenue on the Upper West Side, representatives of the seller announced today. The identity of the buyer and sale price were not disclosed.
Built in 2009, the property is fully leased to four tenants, including CVS Pharmacy. Located on the southeast corner of West 70th Street and West End Avenue, the retail condo sits below a 170-unit luxury residential building designed by Costas Kondylis & Associates.
CVS occupies the largest portion of the retail space, with 10,025 square feet on the ground floor and further 5,465 square feet in the cellar. Apple Seeds and Bin 70 also occupy a portion of the retail condo. The Klein Group acquired the retail condominium at 200 West End Avenue from Clarion Partners for $31 million in 2011, according to published reports.
The bulk of The Klein Group’s real estate portfolio is concentrated in New Jersey. However, the firm paid $20 million for four retail condominiums at 111 Fulton Street in the Financial District. That property, also acquired in 2011, boasts a retail tenant roster that includes Chipotle, Red Mango and Hale and Hearty Soups.
Andrew Scandalios, Jose Cruz, Jeff Julien and Kevin O’Hearn of HFF represented the seller in the transaction. David Beare of CORE and Scott Heller of the Heller Organization represented the buyer.
Mr. Scandalios could not immediately be reached for comment.