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Hidrock Properties announced that the NYS Attorney General’s
office has declared the offering plan effective at 35 West 36th Street, a
12-story, 80,000s/f office building in Herald Square being converted from
traditional office space to office condominium units.
Initially brought to market in January 2020, Hidrock has
seen steady interest in the newly created office condominium units, selling several
of the 24 available units despite the slower market due to the pandemic closings
are set to begin in August, 2021.
“The office condo market is bouncing back as prices and
sales activity city-wide continue to trend upwards after bottoming out last
Stacom, Shanahan win Most Ingenious Deal of the Year rew-online.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from rew-online.com Daily Mail and Mail on Sunday newspapers.
Adelaide Polsinelli has closed on the first retail condo
trade in Union Square in the past six months.
The Compass vice chairman announced that she worked with Karen Kemp and Joe Brazil of MHP, a Banyan Street Company, to sell the store at 13 East 16th Street (pictured top) for $1,661 psf and at a 4.5 per cap rate.
The buyer runs a computer technology business and plans to
collect rent from longtime tenant, fashion boutique Agnes b, for the next two
years of their lease and then occupy the space himself.
“The buyer recognized that this point in time presented a once-in-a-cycle opportunity to buy a retail store for his business, in a better location than where he was renting,” said Polsinelli.
450 West 31st Street, New York, NY 10001 Phone: 212-260-1332
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