High-rise commercial buildings

Sub Markets

Property Sectors

Topics

New York & Tri-State CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

New call-to-action
New York & Tri-State  + Midtown New York  + Apartments  | 

Merchants Bank Retains CBRE to Market Fee Interest in Midtown Residential Property

CBRE has been retained by Merchants Bank to market for sale the fee interest in 19 W. 55th St., a vacant, nine-story residential property with continuous retail frontage in Midtown Manhattan. CBRE’s Daniel Kaplan was appointed by the bank to spearhead the sale.

“Opportunities to acquire the fee interest of an asset in this premier Midtown location are limited,” said Kaplan. “19 W. 55th St. offers investors the ability to own a strategically located property in one of the most coveted corridors in New York City.”

Once known as The Branson, 19 W. 55th St. was built in 1920 and comprises 39,000 square feet. According to published reports, Merchants Bank foreclosed on the property, which its previous owner had sought to convert into luxury condominiums, this past July following delays due to the developer filing for Chapter 11 protection on two separate occasions.

Read More News Stories About: CBRE
Connect

Inside The Story

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 19-plus years’ experience covering the commercial real estate industry and 35-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 11-15 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition
New call-to-action
New call-to-action
New call-to-action