$11M for Retail Condo at the Grand Beekman Condominium

BLDG Management Co. paid $10.9 million for a retail condominium at the base of the Grand Beekman Condominium at 900 First Avenue in Midtown East. The 7,000-square-foot condo is home to a Chase Bank and a Dunkin’ Donuts franchise.

“The site attracted interest from a number of investors because of the tenancy, potential future upside and ideal corner location,” said Brian Ezratty of Eastern Consolidated, who procured the buyer. Ben Tapper of Eastern Consolidated represented the sellers, Dalan Management and Standard Property Company.

“In the last 10 years, Chase’s customer deposits have increased over 630 percent, which is the largest percentage increase of any Chase branch in the entire zip code,” said Ezratty.

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