By Al Barbarino
Emmes Asset Management Group has sold a $70 million trio of assets to a Long Island-based developer.
City records show that the privately owned investment company sold properties at 256-260 West 23rd Street, 661 Lexington Avenue (135 East 55th Street) and 177 Dyckman Street to The Parkoff Organization on Jan. 10 for $35, $25 and $10 million, respectively.
The 96,427 s/f building at 256-260 West 23rd Street is home to the Clearview Cinemas building; the 44,595 building on Lexington is a mixed-use building and home to fashion designers and an antique store, among other occupants; and the 26,155 s/f Dyckman Street retail building currently houses Planet Fitness, General Nutrition Corporation and a 7/11, said Seble Williams, asset manager at Emmes.
“The sale was consistent with our longstanding strategy of generally stabilized assets at a time where we are maximizing values for our capital partners,” said a spokeswoman for Emmes.
As of December 2011, Emmes held 84 assets comprising over 14 million square feet and spanning the office, retail, multifamily, and industrial sectors across 20 states, according to a company website.
