Segall, Alani and Butwin of Robert K. Futterman & Associates complete retail condo sale; Bennco Props. purchased 5,686 s/f for $2.675m

Robert K. Futterman & Associates (RKF) completed the sale of the 5,686 s/f retail condominium at 8 West 19th St. The asset was sold for $2.675 million. RKF directors Brian Segall and David Alani, along with analyst Jonathan Butwin of the firm's investment sales division, RKF Investment Sales & Advisory Services, represented both the buyer, 8 West 19 Retail LLC and seller, Bennco Properties, LLC in this transaction. Situated on the south block between Fifth and Sixth Aves. in the Flatiron District, 8 West 19th St. is an income-producing, single-tenant retail condominium occupied by Food Works. The retail condominium features 4,010 s/f on the ground floor and a 1,676 s/f cellar. "This was a rare opportunity to purchase a prime Flatiron District retail condominium that permits food use in a neighborhood that has become highly desirable to restaurateurs," said Segall. "The sale of 8 West 19th St. is a great example of the current trend in the market where buyers are willing to pay aggressive cap rates for prime Manhattan retail condominiums." RKF Investment Sales & Advisory Services is under the leadership of executive vice president Jeffrey Fishman. The division specializes in developing and executing investment strategies for buyers and sellers of all types of retail driven assets. The firm is fast emerging as a leader in all aspects of investment sales in New York City as well as nationwide. The country's leading independent real estate firm specializing in retail leasing, investment sales and consulting services, Robert K. Futterman & Associates (RKF) serves a broad spectrum of domestic and global clients in services ranging from national tenant and owner representation to advisory, consulting and disposition. With more than $9 billion in aggregate real estate transactions to its credit, RKF has been responsible for identifying scores of real estate opportunities throughout the United States for leading American and international chains, retailers, developers and institutional clients. RKF is headquartered in New York with offices in Northern New Jersey, Las Vegas, Los Angeles and San Francisco.