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New York & Tri-State  + Uptown/Bronx  + Net Lease  |  July 7, 2026
Paul Bubny
By: Paul Bubny

Chase Bank Branch Garners Manhattan’s Sixth-Highest Price Per Square Foot Since 2023

Net lease real estate advisory and investment platform SURMOUNT has completed a $13-million sale of a Chase Bank branch located at 1295 Madison Ave. in the Carnegie Hill neighborhood. The firm represented both buyer and seller. The 3,000-square-foot ground-floor bank branch traded at a 4.74% cap rate, or $4,300 per square foot.

The sale price per square foot ranks as the sixth highest achieved for a retail sale in Manhattan since 2023, a list that includes tenants such as Prada and Van Cleef & Arpels, according to SURMOUNT. The sale marks the latest chapter in a continued relationship between SURMOUNT and Patriot Real Estate Holdings, for whom the firm served as advisor on both the original acquisition in 2024 and its subsequent disposition.

“Closing the sixth highest retail price per square foot in Manhattan since 2023 on a sub-3,000-square-foot bank branch speaks to the trophy nature of this asset and the depth of our buyer network,” said Anthony Bird, VP, investments at SURMOUNT.

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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).
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