News:
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.
Tags:
Brokerage
MORE FROM Brokerage
REALM, DelShah Capital and A.M. Properties acquire 377,000 s/f CitySpire office condominium
Manhattan, NY REALM, in partnership with DelShah Capital and A.M. Properties, acquired CitySpire, a 377,000 s/f office condominium comprising 24 floors within the 70-story tower at 156 W 56th St. in Midtown. Adjacent to Central Park with transit access and amenities, CitySpire is a Class A office asset located in one of the city’s most sought-after office corridors.
Columns and Thought Leadership
The anticipated effect of Basel III and ISO 20022 implementation on commercial real estate - by Michael Zysman
July 1, 2025 is the deadline for US banks to begin to adopt Basel III banking standards and July 14, 2025 is the deadline for U.S. banks to adopt ISO 20022 messaging standards. Both will have a significant effect on the banking and commercial real estate (CRE) finance sectors.
Tri-state capital migrates nationally amid regulation pressure - by Reese Weaver
New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,
The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian
There was a time when an offering memorandum (OM) was pretty bare bones, some photos, a few bullet points on income, and a rent roll thrown in at the back. That used to get the job done. Not anymore. In 2025, buyers are sharper, faster, and more selective. They’re looking
A fresh start - by Shallini Mehra and Amit Doshi
For the past several years, the New York City multifamily housing market has been defined by disruption. The combined impact of the HSTPA rent laws and a sharply higher interest rate environment has fundamentally reduced