The source explains that they cannot disclose the reasons for selling. They did note, however, that the transaction occurred at a capitalization rate of 6.3% and sold for $527.16 per sf.
The building, located at 162 E. 33rd St. is a 25-foot-wide property located on the south side of East 33rd Street between Park and Lexington Avenues and once had a tapas/bar restaurant on the ground floor. The upper floors consist of seven one-bedroom apartments, all railroad-style, two of which are rent stabilized, one that is rent controlled and four that are free market.
While smaller than the original 128-seat restaurant, the new Second Avenue Deli will seat at least 75 people in the newly renovated space. "It was great helping the Second Avenue Deli find a new home," notes Massey Knakal partner and managing director James Nelson, who exclusively represented the seller with vice chairman John Ciraulo. "Although those in the East Village will miss their neighborhood institution, I'm sure the deli's business will be off the charts at the new location as they appeal to the Midtown lunch crowd."
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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.
