Presented By: Meridian Capital Group
Meridian’s NY Institutional Investment Sales Team to Sell Madison Ave Retail Condominium
Meridian team to market 189-199 Madison Avenue, a retail condominium leased to a diversified roster of neighborhood tenants with potential upside
Meridian Capital Group announced today that its Institutional Investment Sales Group, led by Helen Hwang, has been tapped to sell the retail condominium located in base of the luxury 166-unit Goodhue House at 189-199 Madison Avenue and 43 East 34th Street. Encompassing over 17,000 square feet, including approximately 11,000 at grade, the retail condo offers an investor both the potential for upside from below market rents and stability from long-term leases, as well as the potential for upside from below market rents in a submarket poised for near-term growth. 189-199 Madison Avenue is 100 percent leased to seven service-based tenants, including FedEx Kinkos, Chocolat Michel Cluizel and Eden Wok.
Offering an outstanding 150 feet of avenue frontage, 189-199 Madison Avenue is situated in an area that is rapidly evolving as a result of transformative high-end condominium and office developments. With an average tenant tenure of over 17 years, and over four years remaining on the in-place leases on average, 189-199 Madison Avenue offers a stable cash flow in a dynamic and desirable retail corridor that is outperforming Manhattan retail overall.
“The opportunity to control nearly an entire block front of retail space on Madison Avenue is such a rarity,” said Helen Hwang, Senior Executive Managing Director and Head of Meridian’s Institutional Investment Sales Team.
Helen Hwang, Senior Executive Managing Director of Meridian’s Institutional Investment Sales group can be reached at (212) 468-5930 or firstname.lastname@example.org.
Founded in 1991, Meridian Capital Group is America’s most active debt broker and one of the nation’s leading commercial real estate finance advisory firms. In 2017, Meridian closed over 3,000 loans totaling more than $32 billion in transaction volume with 243 unique lenders, equating to $123 million per business day. Since inception, the company has closed more than $300 billion in transactions with the full complement of capital providers, including local, regional and national banks, CMBS lenders, agency lenders, mortgage REITs, life insurance companies, credit unions and private equity funds. Meridian arranges financing for many of the world’s leading real estate investors and developers and the company’s expansive platform has specialized practices for a broad array of property types including office, retail, multifamily, hotel, mixed-use, industrial, healthcare, student housing and self-storage properties. Meridian is headquartered in New York City with offices in New Jersey, Maryland, Illinois, Florida and California. www.meridiancapital.com