Real Estate Weekly
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Deals & Dealmakers

On The Scene: RKF marketing 270 Park Avenue South, Eastern Consolidated Retained

 Agents:
Eastern Consolidated has been retained as the exclusive agent to market a prime development opportunity for a long-term net lease at 111-115 East 24th Street in Midtown South.
Located on East 24th Street between Park and Lexington Avenues, the site is zoned for ±38,000 square feet on ±5,925 square feet of land, which is currently occupied by a commercial parking lot and can be delivered vacant. The property also features 60 feet of frontage on East 25th Street and a 30-foot curb cut. 

Brian Ezratty, a Vice Chairman at Eastern Consolidated, along with Senior Director Peter Carillo and Vice President of Financial Services Scott Ellard exclusively represents the owner

Brian Ezratty
Brian Ezratty

111-115 East 24th Street is strategically situated inside the northwest corner of the Flatiron District and simultaneously positioned at the confluence of NoMad, Gramercy Park, and Kips Bay. The property is in close proximity to Baruch College, The School of Visual Arts, HBO Studios, and the New York headquarters for Credit Suisse First Boston.
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 EPIC Commercial Realty has secured the exclusive listing for 2873 Atlantic Avenue, a mixed-use building located between Jerome and Barbey Streets in Cypress Hills, Brooklyn. The property is listed for $1,350,000 by Chris Kim and Marcus Jecklin, sales associates at EPIC Commercial Realty. 
A four-story walk-up, the building consists of one ground-floor retail unit and 13 residential units, including 12 studios and one one-bedroom apartment. The 5,520-s/f property has a 6.4 percent CAP rate. All of the units are rent stabilized and the property will be delivered fully occupied.
2873 Atlantic Avenue is located on a main commercial corridor and one block from the Fulton Street amenities. It is also within walking distance of the J and Z subway trains.
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RKF announced that it has been selected to exclusively market several retail spaces:
 •In SoHo, RKF has been named the exclusive agent for 350 West Broadway and 169 Spring Street. Chairman & CEO Robert K. Futterman, Vice President Caleb Petersen and Senior Associate Chris Johnson are marketing 350 West Broadway on behalf of owner Spitzer Enterprises. Located between Grand and Broome Streets, this rare 11,329-square-foot, two-level opportunity boasts strong retail adjacencies with popular fashion, design and home furnishings brands. Formerly occupied by Nordstrom’s Treasure & Bond, the space is in move-in condition and features an all glass front,
Robert Futterman
Robert Futterman
contemporary accents and an outdoor terrace ideal for private functions.
 Situated on the north block of Spring Street between West Broadway and Thompson Street, 169 Spring Street is a column-free space that has 2,300 square feet on both the ground floor and in the basement, with 25 feet of frontage on Spring Street. 169 Spring is in an ideal high-traffic location with the popular Dominique Ansel Bakery and Ladurée in close proximity. RKF’s Bellantoni, Senior Director Beth Rosen and Associate Emily Musilli are marketing the space on behalf of the owner, 169 Spring Street Partners LLC.  
 •In Midtown South, RKF Executive Vice President Joshua Strauss and Senior Associate David Abrams are marketing 270 Park Avenue South, between 21st and 22nd Streets, on behalf of owner 270 Park Avenue South, LLC. Located near Mediterranean restaurant Barbounia, New York Health & Racquet Club and the newly opened Organic Avenue, 270 Park Avenue South features 2,016 square feet on the ground, 1,885 square feet in the mezzanine and 2,304 square feet in the basement, totaling 6,205 square feet. With Union Square just steps away, this stretch of Park Avenue offers strong pedestrian traffic seven days a week and offers close proximity to several subway lines. 
 •Lastly, moving to the Upper East Side, RKF is exclusive agent for 1733-1735 First Avenue, located between 89th and 90th Streets amidst several new residential developments. The retail space being marketed consists of three spaces: two combinable inline spaces at 1733 First Avenue totaling 2,310 square feet on the ground and 1,500 square feet in the lower level, and a corner space at 1735 First Avenue that features 975 square feet on the ground and 242 square feet in the basement. RKF Senior Associate Andrew Stern and Associate Ernie Getz are marketing this property on behalf of the owner, Sterling Equities.
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Cushman & Wakefield has been named exclusive retail leasing agent for 4 West 125th Street in Harlem. 
 Situated on the ground floor of a five-story building, the 8,500-square-foot retail space — plus a 5,500-square-foot lower level — face a well-trafficked and highly visible block on West 125th Street between Lenox Avenue and Fifth Avenue.  Retail and office space are also both available in the entire building, and can be leased on a long-term basis.
  A team led by Joanne Podell, Brandon Singer and Ian Lerner serves as retail agents for the building.

Sales:
CBRE Group, Inc. announced that Jeffrey Dunne, Gene Pride and Patrick Carino, of CBRE’s Institutional Properties, represented an institutional fund and BRT Properties in the $7 million sale of Kennedy Place in Danbury, CT, to an affiliate of Greystar Real Estate Partners, LLC. Kennedy Place is a 9.49 acre multifamily development site that Greystar plans to construct up to 584 residential units with structured parking and ground floor retail.
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Jerry Houlihan and James Coleman of Houlihan-Parnes Realtors, LLC have arranged the sale of mixed use property located at the southeast corner of White Plains Road and East 229th Street with an address of 4062-4072 White Plains Road, A/K/A 690 East 229th Street in the Wakefield neighborhood of the Bronx, NY.
The property is an irregular 9,000 sf lot with 115 feet of frontage on White Plains Road improved with a 3-story mixed-use building containing 2 retail stores and 2 apartments, a 1-story retail brick building containing 3 retail stores and a graveled used car sales lot. The property was sold to a Long Island based management and holding company for a price of $1,375,000.
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John Udell, president of Weichert Commercial Brokerage, announced that Executive Vice President Anthony Baseil and Senior Vice President Scott Maynard, have recently completed the sale of a 905,000 square foot investment property in Sayreville, NJ for an undisclosed price.
The property located at 4000 Bordentown Avenue in Sayreville, NJ is situated on over 47 acres conveniently located at the cross roads of the New Jersey Turnpike, Garden State Parkway and Routes 1, 9, 35 and 18. The building is comprised of 2 interior rail sidings, 52 drive-in doors (30 interior) and rail service provided by Conrail.
The transaction closed at the beginning of August. Baseil and Maynard represented the Seller, GJM Bordentown, LLC/Sayreville, LLC and was sold to an undisclosed Buyer. Cassidy Turley’s Chuck Fern was a Co-Broker on the transaction.

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