J
oseph Moinian andGoldman Sachs’ Whitehall Funds have hired investment brokers at Eastdil Secured to sell the office building 245 Fifth Ave. on the southeast corner of 28th Street.
The 310,000-square-foot building in the Flatiron District by Madison Square Park was purchased in 2007 for $190 million.
But the sellers will likely take a small haircut as 2011 pricing is expected to be closer to $170 million.
Nevertheless, the 1927-era Art Deco boutique building with 26 floors is 93 percent occupied with tenants that include BMG Music Publishing and Beth Israel.
Upside is expected when the leases for 13,000-square-feet of retail turn over, given that the building will benefit from the neighboring Eataly’s success, and the infilling of the north of the 23rd Street retail corridor.
“The Madison Square Park submarket is a thriving oasis between Midtown and downtown that appeals to a diverse array of tenants,” said Eastdil Secured’s Douglas Harmon.
Harmon sold the neighboring 15 E. 26th St. at year-end to a partnership, including Angelo Gordon, Glen Siegel‘s Belvedere Capital and Metropolitan Realty Associates.
Eastdil’s Adam Spies and Harmon are in charge of the 245 Fifth marketing.
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For those more inclined to invest or move their company into the Meatpacking District, a brand-new jewel box is just coming to market.
The mid-block building at 15 Little West 12th St. was conceived by late floral designer and event planner Robert Isabell to blend into the formerly industrial neighborhood with large, multi-paned windows and 18-foot ceilings.
Furniture retailer Arhaus just rented and is building out 32,000-square feet on the ground, basement and second floors.
Another 2,000-square feet of retail space is available on the 13th Street side, where a three-story 1900s-era building was integrated into the main design.
Upstairs, Palo Alto-based tech firm Palantir will move in when its 13,500 square feet on the top floor and rooftop is completed.
The sellers, Taconic Investment Partners and Square Mile Capital, have hired the Jones Lang LaSalle capital markets team led by Richard Baxter, Ron Cohen, Scott Latham and Jon Caplan to market the building.
Sources expect the pricing to hit $1,000 a foot even though 40,000 out of 82,000 square feet is still available.
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It looks like Community Board 3 is going to be faced with another restaurant after famously turning down Koi’s liquor license request back in 2009.
The former Salvation Army facility at 347-349 Bowery on the corner of E. 4th Street was just purchased for $7.6 million by Paris-based Louzon Group.
The family company intends to construct a boutique hotel that would include one of its own restaurants.
In France, the restaurateur operates a few dozen restaurants and one alternative-location hotel.
“They are successful and have a strong following,” said Alan Miller of Eastern Consolidated, who repped Louzon in the purchase.
Architect Gene Kaufman, who has designed a slew of the city’s most recently constructed quick and cozy hotels, will be fashioning the 65-room project.
Kaufman initially approached investment broker Miller to help find the group an appropriate site on the Lower East Side.
As there was nothing vacant available in the range of 15,000 to 50,000 square feet that was buildable, Miller and colleague Robert Ortiz reached out to Jonathan Plotkin of Colliers International, who represented the Salvation Army.
While its three-story vacant site had been off the market since the Koi debacle, the inquiry prompted an offering, which then stirred up five competing bids before Louzon ultimately prevailed.
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Two adjacent properties in the hands of the same family for 60 years were just purchased by the Parkoff Organization for $22 million.
The corner of 30th Street at 431 Third Ave. has 52 apartments and six stores, including neighborhood favorite Banc Café.
Next door, the walkup at 441 Third Ave. includes seven apartments and one store along with a carriage house.
The 55,000-square-foot total includes another 50,000 buildable square feet. No redevelopment is planned and the property will con tinue to operate as rentals.
Devin Cohen and Aaron Jungreis of Rosewood Re alty Group got the family to agree to an all-cash, 30-day close contingent on all 16 partners of Ackville Realty signing.
After a call to the Parkoff Organization, the deal was sealed.
lois@betweenthebricks.com