RKF Completes Sale of Retail Co-Op Store in Flatiron District
08/03/2006
08/03/2006
Space sold for $24.8 million
NEW YORK, NY — Robert K. Futterman & Associates, LLC (RKF), the nation's leading independent real estate firm specializing in retail leasing and investment sales, completed the sale of a 17,000-square-foot retail space located at 85 Fifth Avenue.
The building's retail space comprises 7,800 square feet on the ground floor and 9,200 square feet on the lower level.
RKF Chairman and CEO Robert Futterman and Managing Director Ariel Schuster negotiated the sale of the space and represented both the buyer, RFR Holding LLC and the seller, Michael Salzhauer in the transaction.
Currently occupied by the trendy apparel and accessories retailer Anthropologie, the space is located on the northeast corner of 16th Street and Fifth Avenue. 85 Fifth Avenue is also in close proximity to major retailers Barnes & Noble, Zara, Banana Republic, Gap, Esprit, Kenneth Cole, J.Crew, Coach, bebe, Arden B and Pier One.
"The sale of 85 Fifth Avenue is another example of the increasing trend in retail co-op sales in Manhattan," said Futterman.
Schuster added that "the Flatiron District is young, fashionable and enjoys major foot traffic from residents and tourists alike. This is a strong retail market and one of the most popular shopping corridors in the city."
The country's leading independent real estate firm specializing in retail leasing and investment sales, Robert K. Futterman & Associates LLC (RKF) serves a broad spectrum of domestic and global clients in services ranging from national tenant and owner representation to advisory, consulting and disposition. With over $4 billion in aggregate real estate transactions to its credit, RKF has been responsible for identifying scores of real estate opportunities throughout the United States for leading American and international chains, retailers, developers and institutional clients. RKF is headquartered in New York with offices in Las Vegas, Los Angeles and San Francisco.
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NEW YORK, NY — Robert K. Futterman & Associates, LLC (RKF), the nation's leading independent real estate firm specializing in retail leasing and investment sales, completed the sale of a 17,000-square-foot retail space located at 85 Fifth Avenue.
The building's retail space comprises 7,800 square feet on the ground floor and 9,200 square feet on the lower level.
RKF Chairman and CEO Robert Futterman and Managing Director Ariel Schuster negotiated the sale of the space and represented both the buyer, RFR Holding LLC and the seller, Michael Salzhauer in the transaction.
Currently occupied by the trendy apparel and accessories retailer Anthropologie, the space is located on the northeast corner of 16th Street and Fifth Avenue. 85 Fifth Avenue is also in close proximity to major retailers Barnes & Noble, Zara, Banana Republic, Gap, Esprit, Kenneth Cole, J.Crew, Coach, bebe, Arden B and Pier One.
"The sale of 85 Fifth Avenue is another example of the increasing trend in retail co-op sales in Manhattan," said Futterman.
Schuster added that "the Flatiron District is young, fashionable and enjoys major foot traffic from residents and tourists alike. This is a strong retail market and one of the most popular shopping corridors in the city."
The country's leading independent real estate firm specializing in retail leasing and investment sales, Robert K. Futterman & Associates LLC (RKF) serves a broad spectrum of domestic and global clients in services ranging from national tenant and owner representation to advisory, consulting and disposition. With over $4 billion in aggregate real estate transactions to its credit, RKF has been responsible for identifying scores of real estate opportunities throughout the United States for leading American and international chains, retailers, developers and institutional clients. RKF is headquartered in New York with offices in Las Vegas, Los Angeles and San Francisco.
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