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New York & Tri-State  + Midtown New York  + Office  | 

Avison Young Closes Midtown Sale to Owner-Occupier

Avison Young arranged the sale of a 17,000-square-foot office building at 14 E. 52nd St. on behalf of Inmoprisa USA, Inc. for $19.5 million. The building’s former occupant, Pronovias, a high-end wedding dress company, vacated the property in 2020. The property sold to developer Ramirez & Co., which seeks to reposition the building for its use. 

Inmoprisa USA was represented by James Nelson, principal and head of Tri-State Investment Sales; Eric Karmitz and Brent Glodowski, directors; and Alexandra Marolda, associate director. Jeff Berman of Berkshire Hathaway represented Ramirez & Co. 

“This property is tailor-made to fit an owner/occupier and were extremely encouraged to see a substantial number of interested investors/developers and ultimately transacting at a premium sale price,” said Karmitz. “Additionally, Manhattan retail and office has seen a significant transformation, with owner/occupiers actively buying real estate for their personal business – with this transaction being a perfect example of that.” 

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Avison Young's Karmitz

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-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 7-10 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