Representing the seller were Avison Young principals James Nelson, who is head of Tri-State Investment Sales, Vincent Carrega, Neil Heilman, director Brent Glodowski and associate Angela Mulder.

"The retail condominium at The Kent offered the opportunity to acquire a newly constructed retail space in the base of a beautiful luxury Upper East Side property with a built-in tenancy and an in-place cash flow, as well as future upside with the remaining available space," Nelson said. "Even in this challenging retail market, Avison Young found that there was significant interest in this investment, driven primarily by the credit of a long-term lease with the New York City School Construction Authority for a Pre-K school, servicing thousands of residential units and young families in the Yorkville neighborhood."

Earlier this year, a pair of mixed-use buildings in the nearby Lenox Hill neighborhood sold for $13.85 million.  The five-story buildings at 1364 York Ave. and 1368 York Ave. have 608 square feet and 4,184 square feet of commercial space, respectively.