Sherman of Baseline Real Estate Advisors completes sale for $3.4 million

New York, NY Michael Sherman, founder and principal of Baseline Real Estate Advisors announced the sale of 279 Water St. for $3.4 million. The 5,653 s/f corner building consists of a three story corner wood building and in inline four story brick building on Dover St.

Sources indicate the property is the 7th oldest building in Manhattan, dating back to 1794. The building was delivered vacant. The property was home to Bridge Café, a well known historic bar and restaurant until 2012.

“We identified a buyer who appreciated the historical aspect of the properties and has a clear vision for the future due to its prime location in the seaport” says Sherman,who was the sole broker on the transaction. The property is located down the block from the planned Howard Hughes 550,000 s/f development project.