46,000-SF Buildable Site To Fetch $20M-Plus

[IMGCAP(1)]NEW YORK CITY-The Bermuda Limousine Co. is selling its three-story 27,000-sf garage at 537-543 W. 20th St. The property is expected to fetch upwards of $20 million.

Locally-based Eastern Consolidated has been tapped to exclusively market the site which is located on the north side of 20th Street between 10th and 11th avenues. Eastern’s chairman Peter Hauspurg and associate Anna Maria Ronquillo along with senior directors Alan Miller and David Schechtman, and director David Lever, are the marketing team for the site which allows for 46,000 buildable sf and up to 56,000 sf with High Line and inclusionary bonuses.

[IMGCAP(2)]The Bermuda Limousine Co. will continue to operate; however, the company plans to re-locate to new premises in Long Island City. Schechtman tells GlobeSt.com that a location is set for the relocation, but he cannot discuss details at this time. He notes that the Bermuda Limousine chose to sell because the “business is burgeoning, so they need more space,” and because it was “the right time in the real estate cycle to sell.”