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RKF Completes Sale of New York REIT’s Manhattan Retail Portfolio

04.23.18

NEW YORK – RKF, North America’s leading independent real estate firm specializing in retail leasing, investment sales and consulting services, announced today that its investment sales and advisory services group has completed the sale of New York REIT’s Manhattan retail portfolio. Toronto-based Brookfield Property Partners purchased the Bleecker Street properties, while a family office acquired 416 Washington Street. Both transactions closed on April 19. RKF earlier this year completed the sale of New York REIT’s One Jackson Square and 350 West 42nd Street.

RKF Vice Chairman Jeff Fishman, Vice President Brian Segall, and Associates Andrew Jacobs and George Martinecz arranged the sales on behalf of New York REIT, a publicly traded real estate investment trust that owned income-producing commercial real estate, including office and retail properties throughout New York City.

The RKF team led by Jeff Fishman was able to execute these sales in a challenging retail environment, securing four different qualified buyers for the assets.

New York REIT’s retail portfolio comprised seven properties totaling 78,755 square feet spread across several of Manhattan’s most desirable retail trade areas. HUBB NYC purchased the retail condominium unit and parking garage at 350 West 42nd Street for $25.1 million; RFR Realty purchased eight retail condominium units at 122 Greenwich Avenue, also known as One Jackson Square, in the West Village for $31 million; Brookfield purchased the retail condominiums at 367-369 Bleecker Street, 382-384 Bleecker Street, and 387 Bleecker Street, in addition to a leasehold interest in two retail units and a parking garage at 350 Bleecker Street, for $31.5 million; and a family office acquired 416 Washington Street for $11.2 million.

“We were proud to have been chosen by New York REIT to execute the sale of these retail assets,” explained Fishman. “The sales that our team arranged reflect how we were able to effectively present a retail portfolio to four distinct investors with different profiles.”

About RKF
The leading independent real estate firm in North America specializing in retail leasing, investment sales and consulting services, RKF serves a broad spectrum of domestic and global clients in services ranging from national tenant and owner representation to advisory, consulting and dispositions. With approximately $40 billion in aggregate real estate transactions to its credit, RKF has been responsible for identifying scores of real estate opportunities throughout North America for leading retailers, restaurants, owners, developers and institutional clients. RKF is headquartered in New York with offices in Chicago, Las Vegas, Los Angeles, Miami, Northern New Jersey, San Francisco, Tokyo and Toronto. RKF operates in Canada as RKF Group Canada Realty, a retail brokerage.

RKF’s New York City office is located at 521 Fifth Avenue, Floor 7, New York, NY 10175.
T: 212.599.3700. www.rkf.com

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