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On the Market

12/01/2013, By



On the market

Commercial properties recently placed on the market

December 01, 2013 
By Linden Lim

76-80 Meserole Street

76-80 Meserole Street

Jeff Greene asks $150M for 100 Vandam

Billionaire Jeff Greene has switched tactics in Hudson Square. Rather than build a 140,000-square-foot condominium project at 100 Vandam Street, as he told The Real Deal he would do, he has decided to sell the parcel for $150 million, or three times what he paid last year. The move follows a contentious rezoning of the area that will allow for bigger residential developments. The property, which includes twin sites, is being marketed with the option to demolish the existing buildings and replace them with a 290-foot-tall residential development as big as 150,000 square feet, Crain’s reported. Massey Knakal Realty Services is marketing the property.

Cornell Realty selling Williamsburg rental building

Cornell Realty Management is asking $38.5 million for a 61,000-square-foot multifamily rental building in Williamsburg. Of the 49 units, 41 are one-bedrooms that average 990 square feet. The rest are two-bedrooms averaging 1,283 square feet. The four-story building, located at 76-80 Meserole Street near Leonard Street, is 89 percent leased. Amenities include a parking garage, a virtual doorman, fitness center and furnished rooftop terrace. Eastern Consolidated’s David Schechtman, Lipa Lieberman, Gabriel Saffioti, Nicole Rabinowitsch, Abi Kassin and Gary Meese are marketing the property.

Mixed-use Dumbo building asks $34.5M

A mixed-use building at 25 Jay Street in Dumbo has hit the market for $34.5 million, according to a news release from investment sales brokerage the Highcap Group, which is marketing the property. The five-story building on the corner of Jay and John streets has 29 apartments and five ground-floor commercial spaces, one of which is occupied by coffee shop Brooklyn Roasting Company. Approved plans for a 15,000-square-foot rooftop addition that can accommodate an additional 15 apartments will be delivered with the building, according to the release. Constructed in 1920, the building was converted to mixed-use from industrial in the early 2000s.

LES conversion site on the market again

The former Eastern Dispensary building, which houses the clothing retailer Eisner Brothers, is up for sale again, at a higher price of $21 million. The detached, 12,464-square-foot prewar building at 75 Essex Street, between Broome and Grand streets, last hit the market in 2010, when the asking price was $18 million, as listed by Bond New York broker Lisa Bornstein. Bond has the listing again, but the broker is now Janine Young. The property has a parking lot and 31,776 square feet of air rights. But its fate could be as a residential property, since it is being marketed as a potential condominium conversion.

Macklowe puts UES retail up for sale

Macklowe Properties is looking to sell the retail condominium at the base of its new residential condo conversion at 150 East 72nd Street. The company has tapped a Cushman & Wakefield team, including Helen Hwang, Nat Rockett, Steve Kohn, Karen Wiedenmann, Gideon Gil and John LiGreci, to market the property, the brokerage told TRD last month. The condo, on the southeast corner of Lexington Avenue and East 72nd Street, is currently configured as four individual retail storefronts, totaling 4,000 square feet of ground-floor space and 1,300 square feet of below-grade space. There is no official price tag on the property, according to a spokesperson for the company, who indicated that the unit was expected to get around $20 million. Other sources told TRD that number was too high.

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