Monday, June 26, 2017
55 Third Ave. sells for $57 million — AGAIN
A transaction from last week to note... in which Benchmark Real Estate Group sold 200 E. 11th St. (aka 55 Third Ave.) to an affiliate of Shorenstein Properties for $57 million, per The Real Deal.
That was the same price that Benchmark paid for the building in 2013. However, they sold the retail condominium portion in 2015 for $25 million, The Real Deal reported.
In 2014, the previously rather drab and dormy-looking building received a facelift and rebranding to become more luxurious with rents going upwards of $10k a month.
Flashback to 2013!
Meanwhile, this seems like a good time to recap the retail coming-and-goings here.
For starters, M2M closed here back in February. In the photo below, the discrete red arrow points to where work continues on the space for Wagamama, the London-based chain of Japanese restaurants, set to open later this year. And the greenish arrow points to where Danny Meyer's Union Square Hospitality Group is opening Martina, a pizzeria, at 198 E. 11th St. ...
Previously on EV Grieve:
Someone actually paid $57 million for this East Village building
Reimagining this 12-story East Village building, now on the market
NY Copy & Printing forced out of longtime E. 11th St. home, opening second location on E. 7th St.
Danny Meyer's Union Square Hospitality Group planning Martina for 55 3rd Ave.