THE former Henri Ben del Building on 10-14 W. 57th St. could be sold for as much as $200 million and redeveloped into a bigger hotel retail project.
We hear that the Fabulous Foursome at Cushman & Wakefield – Richard Baxter, Ron Cohen, Scott Latham and Jon Caplan – were hired to sell the current 11-story building, which has about 84,000 feet. But a redevelopment could send it soaring skywards with 113,000 feet and no height restriction.
The retail spaces, currently occupied by Sharper Image and MacKenzie Childs, are both up for sublease through Susan Kurland.
Office and showroom tenants are an upscale mix that includes the Bliss Spa, fashion guru Dawn Mello, and Holly Dunlap‘s Hollywould. Some tenants also have demolition clauses or short-term deals.
There were no comments from the peanut gallery.
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You could place a small wager on downtown’s pretty 100 William St. at the corner of John Street or simply claim it all.
Lighthouse Ventures has hired Darcy Stacom‘s group at CB Richard Ellis to market the 21-story office building for a full sale or recapitalization.
Data from CoStar Group has the footage at about 357,004 feet, and sources say the offering will be in the $200 million range.
Tenants vary from a branch of White & Case to FT Interactive.
No comments from Stacom, who has bids due Aug. 1.
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Nearby, the duo of Michael Forrest and David Shorenstein of Marcus & Millichap were retained to sell 110 Greenwich St., a luxury apartment building that sits on the southeast corner of Carlisle Street opposite Joseph Moinian‘s new W Hotel.
The 66,530 footer with 61 units could fetch $45 million.
This would be the first sale by the family-owned Jakobson Properties, which has been in operation since the 1880s and converted a warehouse to these rentals in 1997.
Jakobson Properties is better known to their tenants as http://www.nofeerentals.com.
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SL Green Corp. sold an 85 percent interest in 1372 Broadway to Wachovia in a recapitalization based on a price of $335 million.
Wal-Mart Stores East just signed a deal to take 46,103 feet on the second floor and its mezzanine for executive offices. Investment maestro Douglas Harmon of Eastdil Secured handled the marketing for SLG.
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Don Glassie, CEO of Atlantic Stars, is starting construction on his eighth hotel, and his second in Manhattan.
The new one, dubbed The Strand, will be a 20-story luxury business hotel at 33 W. 37th St.
The 76,000-foot property will have 177 rooms, some with spectacular views of the nearby Empire State Building.
Atlantic Stars owns and operates the Park South Hotel at 122 E. 28th St. as a boutique hotel, the opening of which in September 2001 was overshadowed by the events that took place a week later.
Glassie already has spots in Newport, R.I., and in Miami, owns the South Seas Hotel on Collins Avenue and the Avalon Hotel on Ocean Drive.
The company also owns and operates the Arabella Cruise Ship which sails from Newport to Martha’s Vineyard and the Caribbean.
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Sen. Hillary Clinton should hope she’ll get new, free office space at 1600 Pennsylvania Avenue in Washington.
That’s because the presidential wannabe, whose original rent at 780 Third Ave. was the highest of any U.S. senator, will face a big jump if she has to renew.
Rents for the East Side building, now 100 percent leased, are being quoted at $110 a foot for deals that will start in 2008.
JRT Realty Group, along with its strategic partner Cushman & Wakefield, is the agent for the 50-story boutique tower that’s owned by TIAA-CREF.
According to Greg Smith of JRT Realty, this asking rent is a “monumental milestone” for Third Avenue.
The column-free building’s most recent lease was just cut with State Bancorp for the entire 16th floor totaling 9,425 feet.
Harry Greeley of Cushman & Wakefield brought in the tenant whose deal, we hear, was drawn under 2007 asking rents in the $80s a foot. [email protected]
