The 24-story building, 256,000-sf, class A office building at 1040 Avenue of the Americas, currently houses offices, most notably Dennis Publications, publishers of Maxim, Stuff and Blender magazines. The ground floor is comprised of retail spaces including Valley National Bank and GNC.
All three buildings were held by a single family for 25 years. Public records list Rosenthal Real Estate as the owner of the 1040 building, although Skyline couldn't release that information or confirm. Winoker Realty Co. manages the 1040 building. CB Richard Ellis brokered the deal on behalf of the seller.
"We were attracted to the buildings because of the low rents, the wonderful architectural elements and the location," Orin Wilf, Skyline's president tells GlobeSt.com.
Although the plans are not yet set for the future of these buildings, Wilf is considering developing the site as a residential project or boutique hotel. "As Skyline Developers continues to grow, this acquisition represents the next phase in our expansion into larger commercial properties," Wilf says, adding that it helps the low rents benefits the company's portfolio.
Skyline Developers is currently developing the luxury condominium 170 E. End Ave. as GlobeSt.com reported in May, and converting 37 Wall St. into a luxury residential rental, which will also house the new Tiffany & Co. store.
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
