Cushman & Wakefield announced today that it has been appointed by Macklowe Properties to market the prime corner retail condominium at the base of 150 East 72nd Street, one of Manhattan’s most desirable residential buildings. Macklowe Properties recently converted 150 East 72nd Street into a luxury condominium property.
150 East 72nd Street, located on the southeast corner of Lexington Avenue and East 72nd Street, provides investors the rare opportunity to acquire and reposition a prime retail corner in a world-class retail corridor on Manhattan’s prestigious Upper East Side. The Property is currently divided into four individual retail storefronts, totaling 4,000 square feet of prime ground floor space with 1,300 square feet of below-grade space. Due to near-term lease expirations, three of the units can be combined to create one contiguous corner storefront with 122 feet of wraparound frontage and great exposure on two high-traffic thoroughfares.
A Cushman & Wakefield New York Capital Markets team of Helen Hwang, Nat Rockett, Steve Kohn, Karen Wiedenmann, Gideon Gil and John LiGreci are marketing the site on behalf of Macklowe Properties.
“The retail condominium at 150 East 72nd Street provides investors flexibility to add value by creating one large, corner storefront or subdividing into multiple boutique shops. This is an extremely rare opportunity where an investor can realize their own vision for this prime corner unit,” said Helen Hwang, an executive vice president with Cushman & Wakefield’s New York Capital Markets Group.
“150 East 72nd Street is one of the best storefronts on Lexington Avenue and provides excellent exposure in a market that is renowned for high-end luxury retailers,” said Steve Kohn, president of Equity, Debt & Structured Finance at Cushman & Wakefield.