Kremnitzer and Bechhofer of Pryor Cashman represent the Rudd Family in $49 million property sale to Euro Properties

Pryor Cashman partners Ronald Kremnitzer and Samson Bechhofer represented the Rudd family in the sale of 118 East 59th Street for $49 million to Euro Properties, an investment firm with offices in Hong Kong, Beijing and Singapore. The property is a 5,025 s/f lot between Park and Lexington Avenues. According to the offer memo involved in the sale, Euro plans to tear down the current structure to build a mixed-use tower with high-end retail on the ground level and condos on the upper floors. Kremnitzer, who is co-chair of Pryor Cashman's Real Estate Group, has long represented Frederick Rudd in real estate transactions in Manhattan.

Tags: Brokerage

Reprint

Previous Story Next Story

CBRE broker $14.9 million sale of Lexington Riverview in Fair Lawn, N.J.

Fair Lawn, NJ Representatives of CBRE, led by Jeffrey Dunne, Stuart MacKenzie, Eric Apfel, Travis Langer, and Eric Greenberg of CBRE Institutional Properties, in partnership with Charles Berger of CBRE Investment Properties,

Carvel, Cinnabon and Auntie Anne’s to open combination location at One Sixteen in Rockaway Park

Investment Property Realty Group closes $2.65 million sale of 723 6th Ave. in Greenwood Heights

IPRG closes $2.65m sale of 723 6th Ave.

CM&B completes 15,000 s/f Activate Games NYC debut in Union Square

Neighborhoods, not apartment complexes, build resilient communities that are safer, healthier, and more prosperous - by Paul Adler

Neighborhoods, not apartment complexes, build resilient communities - by Paul Adler

READ ON THE GO

DIGITAL EDITIONS

Browse Now

Quick Hits

Thought Leadership

BOMA New York: Tech and AI in operations - by Sharon Hart

Columns and Thought Leadership

Hunt commercial real estate question and answer: The total cost of relocation - by David Hunt

You have a right to be concerned. I am always surprised at the companies that will negotiate the price of their new facility down to the last dollar, without thoroughly analyzing their

Artificial intelligence in lending - by Lindsay Mesh Lotito

Artificial intelligence (AI) is beginning to help transform lending by enhancing decision-making, improving risk management and streamlining operations. With AI-powered tools that analyze vast amounts of data, lenders are able to assess borrower creditworthiness more accurately and efficiently. AI can evaluate a wide range of factors,

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

New York’s streets are full again, and the retail numbers prove it - by Noam Aziz

Walk down any New York block this year and you can feel it. The sidewalks are crowded, the storefronts are lit, and the energy that defines this city is back at full volume.