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Brokerage
Posted: April 25, 2011
Fishman and Segall of RKF Investment Sales & Advisory Services represents buyer and seller in $7.4 million sale of two mixed-use buildings
RKF Investment Sales & Advisory Services (RKF) has completed the $7.4 million sale of the leasehold interest in two, five-story mixed-use buildings totaling 20,000 s/f at 36 West 34th St. and 41 West 33rd St., located between Fifth Ave. and Broadway. Aerosoles currently occupies the 34th St. retail space.
RKF executive vice president Jeff Fishman and director Brian Segall arranged the sale on behalf of both the seller, ALGM Leasehold II, LLC, and the buyer, ISTA West 34 Street LLC.
RKF Investment Sales & Advisory Services is the investment sales division of industry leader Robert K. Futterman & Associates.
"This was a strong investment opportunity for the buyer given the vitality of the 34th St. retail corridor, specifically between Fifth and Sixth Aves., as well as its proximity to major tourist destinations and the transportation hub of Herald Square/Penn Station," said Fishman.
The 34th St. submarket is one of the top retail corridors in the area and the world. Retailers include Macy's Flagship, Gap, Zara, H&M, Forever 21, Banana Republic, Desigual, Uniqlo, Timberland, Aeropostale, and Levi's.
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