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CushWake Sells Retail on Sixth Avenue Corner
Cushman & Wakefield has arranged the sale of 976 Ave. of the Americas, a fully-leased, three-story retail building at the southeast corner of West 36th Street. The final closing price was $13.25 million; the buyer was not identified.
A Cushman & Wakefield team, led by John Ciraulo and Craig Waggner, led the marketing efforts on behalf of the seller along with Doug Blankrot and Lou Magarelli.
“Just steps away from Bryant Park and Herald Square, this corner retail building offers the buyer a great opportunity to acquire a fully-leased building with significant upside in the ground floor rent,” said Ciraulo.
Waggner added that given the ability to have the building vacant by virtue of in-place buyouts and early termination notices, “the purchaser has the flexibility to either occupy the building for their own use or redevelop it and capitalize on an avenue that has very few development opportunities.”
For comments, questions or concerns, please contact Paul Bubny
- ◦Sale/Acquisition
