Press Release brought to you by Cushman & Wakefield Capital Markets Group New York

Cushman & Wakefield Retained Exclusively to Sell the Ninth Avenue Portfolio - Redevelopment / Conversion Opportunity in Clinton

06/02/2015

Cushman & Wakefield has been retained on an exclusive basis to sell the Ninth Avenue Portfolio, a prime redevelopment/conversion opportunity situated in the heart of Manhattan’s Clinton neighborhood.  The asking price is $50,000,000.

The portfolio consists of four contiguous mixed-use buildings and one apartment building located at 692, 694, 696, and 698-700 Ninth Avenue and 356 West 48th Street, on the southeast corner of Ninth Avenue and West 48th Street. 

The five buildings total approximately 45,695 square feet and are zoned C1-5/R8 within the Special Clinton District, which limits the as-of-right FAR to a maximum of 4.2.  They hold a total of approximately 52,429 buildable square feet.  The properties feature significant frontage, with approximately 100’ on Ninth Avenue and 125’ on West 48th Street, creating a prime flagship retail opportunity.

The portfolio benefits from its proximity to Times Square, Hudson Yards, West Side Highway, Port Authority Bus Terminal, as well as 15 subway lines and numerous bus lines.

The Ninth Avenue Portfolio is being marketed exclusively by Cushman & Wakefield’s Thomas A. Donovan and Christoffer Brodhead.

06/02/2015 - 19:45

Source

Cushman & Wakefield Capital Markets Group New York

Want more news about Cushman & Wakefield Capital Markets Group New York? Click here