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| 6 St. Marks Place, East Village, Manhattan, NY |
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| Barbara Dansker |
NEW YORK,, NY– Marcus & Millichap Real Estate Investment
Services, the nation’s largest real estate investment services firm, has
arranged the sale of 6 St. Marks Place, a five-story elevator retail
building located between Astor Place and Second Avenue in Manhattan’s East
Village.
The $13,875,000 sales price equates to $889 per square foot.
Barbara
Dansker, Preet Sabharwal, Zachary Weiss and Zachary Ziskin, all in Marcus
& Millichap’s Manhattan office, represented the seller, Withinvestors LLC,
and the buyer, Kunbing Inc. The property is net-leased by three tenants and was
100 percent occupied at the time of the sale.
“This
transaction is part of a surge in 1031-exchange transactions that is increasing
the value of the limited number of retail assets in core markets like New York
City,” says Sabharwal.
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| Preet Sabharwal |
The
building is located near Cooper Union, New York University and the new 51 Astor
Place office building. St. Mark’s Hotel and retailers including Walgreens, McDonald’s,
Papaya King, Gap and Kmart are also close by.
Built in
1900, 6 St. Marks Place was built in 1900 and has a gross leasable area of
15,600 square feet. The New York Tofu House restaurant occupies the ground
floor and the lower level. The second floor was recently leased to the Gallery
& Cafe, and St. Mark’s Karaoke occupies the third, fourth and fifth floors.
All of the tenants have long-term leases.
For a complete copy of the company’s news release, please
contact:
Gina Relva,
Public Relations Manager
(925) 953-1716
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