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Hammacher Schlemmer

2019年6月18日 | 未分类 | No Comments

ABS 上海贵族宝贝论坛

上海贵族宝贝
to buy Hammacher Schlemmer building for $63M Brazilian investor selling East 57th St. property after $10M renovation

145 East 57th Street in Midtown and ABS Partners Real Estate s Gregg Schenker

ABS Partners Real Estate is in contract to acquire the famed Hammacher Schlemmer building in Midtown for $63 million, sources told The Real Deal.

The 13-story, roughly 65,000-square-foot office-and-retail building at 145-147 East 57th Street, just east of Billionaires’ Row, has been home to g爱上海同城论坛

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adget store Hammacher Schlemmer since the 1920s. The seller, the U.S. subsidiary of Brazilian investment firm, Grupo Victor Malzoni Investimentos, bought it for $34 million in 2010 and has spent $10 million renovating it. The addition of a 13th-floor penthouse was completed earlier this year.

Glenn Tolchin and Yoav Oelsner

ABS co-managing partner and president Gregg Schenker and partner Randy Modell are handling the acquisition in-house. JLL’s Glenn Tolchin and Yoav Oelsner marketed the building for sale.

ABS, which is also a commercial brokerage, plans a long-term hold and leasing up the remaining space at market rents, sources said.

The building is about 70 percent occupied, and four full floors near 爱上海同城

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the top are vacant. Office asking rents range from the mid-$50s per square foot to $90 per square foot. Hammacher Schlammer, which occupies 8,000 square feet at the base of the building, has another seven years left on its lease. Asking rent for that space is $225 per square foot.

The deal is slated to cl上海千花网交友

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ose for $970 per square foot in October, sources said.

A spokesperson for ABS could not be immediately reached, while JLL and Grupo Victor Malzoni declined to comment.

ABS has been busy recently, planning a Bushwick office conversion with the Hudson Companies and buying a two-tower Miami office complex for $150 million. Grupo Victor Malzoni also has several holdings in Miami.

Tags: ABS Partners, JLL
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