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Clarett sells retail condo for $18.6m.

Sonnenblick-Goldman, acting on behalf of Clarett Capital LLC, has arranged the $18.6 million sale of the retail condominium at 2770 Broadway, the 22-story, 64-unit luxury condominium recently completed at the southeast corner of West 107th Street. The price represented a 5% cap rate.

The buyer was a private group based in Atlanta, Georgia. "Having leased the 7,500 s/f of ground floor space to the Bank of America and Lenscrafters, we believed it was the right time to sell the retail condominium," says Dan Hollander, managing director of Clarett Capital, a joint venture between Clarett Group and Prudential Real Estate Investors. "The buyer was attracted to the tenancy, the financing available and the quality of the neighborhood," says S-G's Steven A. Kohn.
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Title Annotation:Clarett Capital L.L.C.
Publication:Real Estate Weekly
Article Type:Brief Article
Geographic Code:1USA
Date:Aug 17, 2005
Words:124
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