Sidney Rosenthal, Executive Managing Director/Principal, Steve Lorenzo, Principal, Mitchell Salmon, Executive Managing Director, and Christopher Ventura, Associate Director, of Lee & Associates NYC have arranged the sale of the property at 41-47 East 21st Street, between Broadway and Park Avenue South, for $32.2 million to Mequity Companies, a real estate investment and development firm focused on the self-storage industry. The 50,000-square-foot parking garage spans four floors. Lee NYC’s Salmon, Lorenzo and Ventura are the exclusive representatives for Mequity Companies.
“We were excited to work with the Mequity team as well as the property owner in covering all aspects of this transaction and bringing it to a prompt and amicable close in only two months,” explains Salmon, who represented Mequity Companies along with Lorenzo and Ventura. “The Lee NYC team is currently searching for similar locations on behalf of Mequity Companies throughout Manhattan, the outer boroughs and Westchester.”
The seller, The Zucker Organization, was represented by Lee NYC’s Sidney Rosenthal, who sold the building to them approximately 30 years ago. 41-47 East 21 st Street is conveniently located only six blocks from the 4, 5, 6, L, N, Q, R, and W trains as well as numerous bus lines. Surrounding retailers and restaurants include Flying Tiger Copenhagen, The Wing, SUGARFISH by sushi nozawa, Gramercy Tavern and Cosme. Mequity Companies is expected to take occupancy at 41-47 East 21st Street in the first quarter of 2020.
About Lee & Associates NYC
The New York office of Lee & Associates provides a full array of corporate advisory and commercial real estate services, including office and retail brokerage, sales and investments, and project and property management. The firm has more than 90 real estate professionals in its 845 Third Avenue headquarters office. Additional information is available at
www.leeassociatesnyc.com
About Lee & Associates
Lee & Associates is a commercial real estate brokerage, management and appraisal services firm. Established in 1979, Lee & Associates has grown its service platform to include offices in the United States and Canada. Lee & Associates provides superior market intelligence in office, industrial, retail, investment and appraisal to meet the specialized needs of our clients.For the latest news from Lee & Associates, visit lee-associates.com or follow us on Facebook, LinkedIn, Twitter and Link our company blog.
