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NGKF Tapped To Market 11 NYC Citibank Branches

NEW YORK CITY-The brokerage has been exclusively retained to sell a portfolio of the bank’s retail locations in the New York-metropolitan area, according to the New York Post.

By Jacqueline Hlavenka | Updated on June 05, 2012

NEW YORK CITY-As investor appetite for 1031 exchanges gears up, Newmark Grubb Knight Frank Capital Group has been tapped to market a portfolio of 11 Citibank retail branch locations in the New York metropolitan area on anexclusive basis, the New York Post reported. NGKF’s capital group team of Kenneth L. Zakin, Randall E. Liberman and Hymie Dweck is handling the sales of the triple-net-leased properties, which Zakin says is already “attracting a great deal of interest.”

“The portfolio represents a unique opportunity for an investor to acquire individual Citibank retail bank branches in strong neighborhood locations within the New York metro area, or to acquire a portfolio of 11 locations with very little occupancy and operating risk,” he adds, in a statement. 

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