Saturday, September 8, 2012

Loft Building with Rooftop Garden Commands $10.2 Million in Flatiron District of Manhattan

 NEW YORK, NY – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has sold 37 W. 19th St., (top left photo) a seven-story, owner-occupied loft building with ground-floor retail, in the Flatiron district of Manhattan. The sales price is $10,215,000.

Brian Hosey (lower right photo), an associate in the Manhattan office of Marcus & Millichap, represented the seller, a private investor. The seller’s attorneys were Michael Federman and Peter Mannarino of Federman Steifman LLP. Hosey also represented the buyer, Waterbridge Capital. 

“Properties like 37 W. 19th St. – an exceptionally well-located, owner-occupied elevator building in immaculate condition with a beautiful rooftop garden – rarely trade in Manhattan,” says Hosey. “In this case, the seller decided to retire and move out of the city,” he says.

“Because of this asset’s location, condition and the strength of Manhattan’s investment sales market, dozens of qualified buyers – spanning the spectrum of ownership – including private investors, funds and foreign buyers expressed interest in this asset,” he adds.

Located at 37 W. 19th St. between Fifth and Sixth avenues, the loft building contains six full-floor units atop a ground-floor retail center. Currently, the property includes more than 25 feet of frontage on 19th Street and is zoned C6-4A with approximately 7,775 square feet of additional air rights.


Stacey Corso
Public Relations Manager
(925) 953-1716