Retail Sales Group
New York City’s commercial real estate market is ever evolving, changing with the ups and downs of the local economy. They latest economic boom in New York has been in the retail industry as shown by the jump in retail developments in all five boroughs. Investors have noted this success and have capitalized on it – the market for retail condos of every size, shape and location has surged over the last few years. From the $612 million sale of the planned retail at the World Trade Center to the $700 million sale of the retail space at 666 Fifth Avenue, the market is on the rise.
Eastern Consolidated has launched a new Retail Sales Group in response to the recent boom in retail development throughout New York. Eastern has always had a strong retail focus, but given the new demands of the marketplace the Group will offer an additional level of service for clients. Industry veteran Adelaide Polsinelli has been appointed to lead the new Group as Senior Director. The firm has also hired Matt Crosby, Robert Khodadadian, Patricia Garcia, Mat Avital, Ari Schwartz and Jamie Rogovin to focus on new business opportunities in the retail arena. The Group will provide sales brokerage, advisory, research, financial structuring and marketing services. In the last four months, Eastern Consolidated has successfully transacted over 15 retail sales totaling in excess of $200,000,000.
Current Eastern Consolidated exclusives include: the retail co-op at 237 Lafayette St.; the master lease on the ground floor and retail units at 301 64th St.; a one-story double-net leased building at 2087 Hempstead Turnpike in East Meadow, Long Island; a retail condominium at 57-63 Greene St. in SoHo; a one-story plus mezzanine and basement retail building at 30-30 Steinway St. in Queens; a 3,000 square foot retail condominium at 60 Orchard St; a retail condo at 119 Chambers St. in Tribeca; an Upper East Side corner elevatored mixed-use Building at 1854 Second Ave.; an East Harlem residential development site at 1790 & 1792 Third Ave.; a corner retail condominium at 167-177 Lenox Avenue in Harlem; a redevelopment opportunity at West Chelsea’s 311 10th Avenue; and the 33,537 square foot Shoppers World in Patterson, New Jersey.
Selected Highlights
650 Avenue of the Americas
$47,100,000
Commercial
New York, NY
Manhattan
Flatiron
Eastern Consolidated exclusively represented the seller and procured the purchaser in the disposition of this 124,000 square foot commercial building for residential conversion.
141 Fifth Avenue
$46,000,000
Retail Condominium
New York, NY
Manhattan
Flatiron
Eastern Consolidated represented the seller and procured the purchaser in the sale of this 9,204 square foot retail condominium.
201-203 East 86th Street
$42,500,000
Retail
New York, NY
Manhattan
Yorkville
Eastern Consolidated exclusively represented the seller and procured the purchaser in the sale of the 40-year operating leasehold interest in the 1st and 2nd floor retail space and 3 finished floors below grade in this 40,000 square foot retail condominium.
708 Broadway aka 402-408 Lafayette Street
$39,500,000
Commercial
New York, NY
Manhattan
Greenwich Village
Eastern Consolidated represented the seller and procured the purchaser in the disposition of this 130,000 square foot commercial and retail building.
225 Lafayette Street aka 60 Spring Street
$36,000,000
Commercial
New York, NY
Manhattan
NoLita
Eastern Consolidated exclusively represented the seller in the disposition of this 102,000 square foot commercial building being converted to residential condominiums.
211-217 Columbus Avenue
$31,250,000
Retail
New York, NY
Manhattan
Upper West Side
Eastern Consolidated exclusively represented the seller and procured the purchaser in the sale of this 12,122 square foot retail building.
280 Broadway
$26,250,000
Retail
New York, NY
Manhattan
Civic Center
Eastern Consolidated exclusively represented the seller and procured the purchaser in the sale of this 95,000 square foot retail leasehold.
255 East 74th Street
$25,000,000
Retail
New York, NY
Manhattan
Yorkville
Eastern Consolidated exclusively represented the seller and procured the purchaser in the sale of this 144,967 square foot retail condominium.
122-124 Spring Street - John Varvatos Store
$12,500,000
Retail
New York, NY
Manhattan
SoHo
Eastern Consolidated exclusively represented the seller and procured the purchaser in the sale of this 5,200 square foot retail building.
66 Leonard Street
$7,500,000
Retail
New York, NY
Manhattan
Tribeca
Eastern Consolidated exclusively represented the seller and procured the purchaser in the sale of this 23,772 square foot retail condominium unit at The Textile Building located in the heart of Tribeca.
15 West 20th Street and 32 West 18th Street
$9,000,000
Retail
New York, NY
Manhattan
Flatiron
Eastern Consolidated exclusively represented the seller and procured the purchaser in the sale of the 8,933 square foot, two retail condominiums located at 15 West 20th Street & 32 West 18th Street.
