Eastern Consolidated Arranges Sale of Two Retail Properties in Flatiron District and Tribeca for $10.5 Million
NEW YORK, NY – February 20, 2018 – Eastern Consolidated has announced the sale of two retail properties totaling $10.5 million.
A 6,624-square-foot, mixed-use building with ground floor retail at 27 East 20th Street in the Flatiron District sold for $7.25 million, and a 3,732-square-foot retail condo at 68 Thomas Street in Tribeca traded for $3.25 million.
Eastern Consolidated’s Adelaide Polsinelli, Principal and Senior Managing Director, and Mitchell Goldstick, Director, represented the buyer of 27 East 20th Street, an owner-user who plans to open a restaurant in the ground floor retail space. Jonathan Schwartz, Senior Director, represented the seller, Silvershore Properties.
In the 68 Thomas Street transaction, Polsinelli represented the seller, 68 Thomas Street Associates LLC, and Prime Manhattan Realty represented the buyer, Studio 68 LLC.
“These two transactions speak to the desire of businesses to own their work spaces,” Polsinelli said. “They see ownership as a way to gain flexibility and control over their income and future.”
Schwartz added, “The mixed-use building at 27 East 20th Street is a fantastic location for a restaurant. The East 20th Street corridor is home to many of Manhattan’s top eateries and the space will be ideal for the restaurateur who bought it.”
Powered by a highly skilled team of over 100 brokers with a fluency in 15 languages, Eastern Consolidated is one of the country’s preeminent full-service commercial real estate firms. Through three core divisions—Investment Sales, Capital Advisory, and Retail Leasing—Eastern Consolidated serves an impressive roster of international and domestic institutional and private investors on real estate transactions of all sizes and across all property types. For more information, visit www.easternconsolidated.com and follow us on Twitter @EasternConsol.
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