Manhattan, NY Friedman-Roth Realty Services has completed the following: • The sale of an Upper East Side apartment building at 319 East 75
th St. The six-story elevator building, located between First and Second Aves., contains 20 apartments and 2 retail stores. The 25 ft. wide building contains a total of 11,105 s/f and was constructed in 1910. This is the first sale of this property in over 40 years and the selling price for this transaction was $5.25 million.
The declining retail market coupled with the COVID-19 pandemic has left many real estate investors in limbo. Buyers are uncertain what the future may bring and are thus not inclined to buy in this market. This leaves cash strapped owners no other option but to continue to let their property “bleed” or alternatively for owners who want to sell to keep their properties since they cannot find a replacement property via a 1031 transaction. Ground leases may prove to be a valuable alternative to a sale of the property.
Brooklyn, NY TerraCRG has closed on the sale of the development site at 348 Van Brunt St. for $750,000. Peter Matheos and Mike Rafter exclusively represented the seller. 348 Van Brunt St. is a residential development site in the Red Hook neighborhood. The property is zoned R5/C1-3 which is well-suited for a user or investor looking to develop a condo or townhouse project in one of the city’s fastest growing submarkets.
Manhattan, NY According to The Blumenfeld Development Group, (BDG) Marshall’s department store has extended its lease with East River Plaza for another 10 years, active from 2021 to 2031. The retailer occupies 34,000 s/f in the East Harlem complex and has been an original tenant of the space since East River Plaza opened its doors to the public in 2009. In addition to Marshall’s, East River Plaza houses such national brands as: Costco, Target, Burlington Coat Factory, Aldi, Bob’s Discount Furniture, Planet Fitness, Applebee’s and more.
This week we dive into what was The Bottom Line, a historic music venue formerly located at 15 West 4
th St. in the Greenwich Village section of Manhattan. It was located on the ground floor of a classic looking turn-of-the century loft style office building owned by New York University, at the northwest corner of West 4
th and Mercer Sts. The venue which opened in 1974 had a seating capacity of 400 and hosted major musical acts and was a showcase for up and coming artists.
Westbury, NY IREON welcomes James Pirot, managing principal, project management NY Office of Cresa to jointly hold the exclusive commercial real estate brokerage tenant representative firm category
New York, NY IREON welcomes Linda Alexander, founder and president of Alexander Marketing Communications Corp. to hold the exclusive Public Relations firm category on their membership roster.
Westbury, NY IREON is offering a free webinar for real estate owners, developers, owners, operators and tenants,
“Building Compliance, its Laws and Regulations.” The webinar will be held
New York, NY IREON welcomes Peter Sabesan, managing principal at Cresa to hold the exclusive category in commercial real estate brokerage for tenant occupants.
New York, NY IREON welcomes Jeffrey Bernard of Rampart Insurance Services to its roster as member representative to hold the exclusive insurance provider category.
