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GlobeSt.com EXCLUSIVE: Retail Site Goes on the Block

NEW YORK CITY-To maximize its investment, a TIC group places an entire street-level retail block totaling 28,242-sf on the market. The site, which is at West 57th Street and Sixth Avenue, has an asking price of $35 million.

By Barbara Jarvie | Updated on December 20, 2005

NEW YORK CITY-A 28,142-sf Midtown retail block hits the market as a group of TIC investors seek to maximize their investment. The leasehold interest in the entire block of street level shops extending from Duane Reed on the Southwest corner of West 57th Street and Sixth Avenue, southward to the Northwest corner of Sixth has an asking price of $35 million.

The seller is Carnegie Retail LLC, the tenant in common with Carnegie House, which owns and operates 100 West 57th St.’s residential component, as well as 75 percent of the ground lease on the subterranean parking garage. Eastern Consolidated’s senior managing directors Ronald A. Solarz and Eric M. Anton, and financial analyst Zachary Bennett are representing the sellers.

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