Klosed Properties arranges $5.9 million sale of 837 2nd Avenue; Kaplan of CBRE was sole broker of 7,680 s/f property

Manhattan, NY Klosed Properties arranged the closing of 837 2nd Ave.for $5.9 million. The subject property is a 7,680 s/f mixed-use building, located on the west side of Second Ave., between 44th and 45th Sts. in the borough’s Midtown East neighborhood. The property’s location is close to the United Nations, Grand Central Station, and the new Second Ave. Subway Line. The building is the original home to the famed Palm restaurant and features 10,570 s/f of available air rights. Steven Kachanian, principal of Klosed Properties said, “We are thrilled about the long-term potential of this asset. The 3,600 s/f built-out restaurant is extremely valuable to prospective tenants because it will save them a great deal of time and money. The location, visibility, and history of the building make this a dream spot for high end operators catering to the United Nations and diplomats.” Daniel Kaplan of CBRE was the broker in the transaction. Kachanian also said that in addition to overhauling the restaurant space, he plans to convert the upper floors that have sat vacant as storage for decades into high end apartments.