In an off market transaction, a 9,500 s/f plus 4,350 s/f basement retail condominium located on the ground level of the newly constructed Philippe Starck designed "Gramercy by Starck" building, at 338-46 East 23rd St., has traded for $22.2 million.
The retail condominium is tripled net leased to CVS Pharmacy for 25 years with 4 five-year renewal options.
Eastern Consolidated senior director Roberto Ortiz procured the buyer, Omnispective Management Corp., while senior directors Ety Lee and Alan Miller, represented the seller, the developer of the "Gramercy by Starck,"a residential condominium being marketed by Michael Shvo.
Samuel Ross, Esq. of Olshan Grundman Frome Rosenzweig & Wolosky LLP represented the purchaser and Mitchell Bernstein, Esq. of Herrick Feinstein LLP represented the seller. Tags: