Two retail condominiums, situated in the Flatiron neighborhood at 15 West 20th St. and 32 West 18th St., have traded for $6.1 million to YH18, a foreign investor.
Eastern Consolidated represented the seller and buyer in the transaction. Director Martin Ezratty acted for seller, Extell Development Co., and Eastern senior director Aliza Avital represented the buyer.
Together, the pair of condominiums offer 8,933 s/f. A Vidal Sasoon salon occupies one of the spaces and the second is occupied by the American showroom of an international Japanese manufacturer of high-end bathroom fixtures. The third 3,260 s/f retail space with an 1,100 s/f lower level storage space, is currently vacant.
Jennifer Schwartz Esq., in-house attorney, acted for Extell Development, while Ryan Miller, Esq., Bryan W. Kishner & Associates represented YH18.
"Flatiron is a highly sought-after retail enclave, featuring home improvement stores specializing in kitchen and bath fixtures and fittings. It is also home to such national giants as Men's Warehouse, Bed Bath & Beyond and TJ Maxx, and the new Eataly and Trader's Joe's on West 23rd and West 21st Streets respectively," said Ezratty who added that the excellent location played a major role in driving the sale.
"This will represents YH18's second acquisition of a retail condo in New York," said Avital who added the buyer is a long-term owner and is looking to further expand in the city.
Founded in 1981, Eastern Consolidated is one of the country's preeminent full-service real estate investment services firms, combining an unrivaled expertise in the greater New York marketplace with a worldwide roster of institutional and private investor clients. Over the years, it has been responsible for the acquisition, disposition and finance of all types of properties, including office and apartment buildings, lofts, factories, hotels, shopping centers, commercial and residential development sites, taxpayers, parking garages and lots, retail condominiums and air rights transfers. Tags: