620 Sixth Ave sold to investors for $280m.Real estate investors Yair Levy, Joe Chetrit, and Charles Dayan Lieutenant Colonel Charles Dayan (July 8, 1792 Amsterdam, New York - December 25, 1877 Lowville, New York) was an American lawyer and politician who was a United States Representative from New York from 1831 to 1833. acquired 620 Avenue of the Americas from Jamestown last week for $280 million. The seven-story, 670,000 s/f building is 90% leased and boasts a roster of office tenants that includes such household names History Formation (1998-2000) Household Names have been together since 1998, with various members rotating throughout the line-up with singer, Jason Garcia, until it was solidified in the summer of 2000 with bassist/keyboardist, Chris Peters, and drummer, C. J. as Nike, Yahoo, Hot Jobs and The Gap. Big box tenants Bed Bath & Beyond, T.J. Maxx T.J. Maxx is a chain of American department stores owned by TJX Companies. It is the largest off-price apparel retailer in the United States offering brand name clothing, footwear, bedding, furniture, jewelry, beauty products, and housewares. , and Filene's Basement Filene's Basement, also called The Basement, is a Massachusetts-based chain of department stores owned by Retail Ventures, Inc. The oldest off-price retailer in the United States, The Basement fill the building's sizeable retail portion. Eastdil's Doug Harmon, who brokered the sale of so many nearby properties, including the $300 million sale of 85 Tenth Avenue in June, the $775 million sale of 111 Eighth Avenue last year and the $280 million sale two years ago of Chelsea Market Chelsea Market is an enclosed, urban food court and shopping mall built within the former Nabisco factory complex where the Oreo cookie was invented and produced. The 22-building complex fills two entire blocks bounded by 9th and 11th Avenues and 15th to 16th Street. , handled the deal for Jamestown. Located in Chelsea, which has increasingly become a hotspot for office, retail and residential properties, 620 Avenue of the Americas has the option to expand its uses in the form of 200,000 s/f of developable air rights that could be utilized to either beef up the building's office component or add residential condos. Because the building, with its ornate facade, is a landmark, either would require approval from the city. The air rights didn't push up the price even higher because receiving such city approval would be "lengthy and difficult," an insider to the deal claimed. Part of a stretch of Sixth Avenue once dubbed "the Lady's Mile" for its row of department stores This is a list of department stores. In the case of department store groups the location of the flagship store is given. This list does not include large specialist stores, which sometimes resemble department stores. , 620 Avenue of the Americas was constructed in 1896 and was home to the Sigel Cooper Dry Goods store dry goods store n (US) → mercerÃa dry goods store n (US) → magasin m de nouveautés dry goods store n (US , one of the first department stores in the city. Tishman & Speyer conducted a major gut renovation of the cast iron structure in the early 1990s. The building marks Yair Levy's biggest entrance yet into the commercial real estate market. Levy first gained major notice for his $418 million acquisition of residential property the Sheffield last January, a property he purchased in partnership with Serge Hoyda and Kent Swig. Then last July, he acquired the Related Companies' residential buildings Columbus Green and Parc Place for $165 million. Jamestown has been active in Chelsea in recent years. The firm purchased three quarters of the 2.9 million s/f 111 Eighth Avenue from Taconic last year in what was the biggest investment sales transaction of 2004. |
|
||||||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion