Top 5 NYC Retail Building Sales—March 2025
Sale Price: $27.5 million
Nonprofit organization Christian Advocates Serving Evangelism has sold the 9,765-square-foot retail property in the borough’s Lenox Hill neighborhood. The buyer is Kassin Sabbagh Realty, known as KSR. The property previously traded in 2022, when French retailer Liaigre sold it for $16.5 million.
Originally built in 1910, the five-story property was last upgraded in 2023 and includes two residential units totaling 1,328 square feet.
Sale Price: $15 million
An entity affiliated with Express Builders purchased the 21,000-square-foot retail building from a private seller. The buyer also secured $11 million in acquisition financing originated by Popular Bank.
The single-story building dates back to 1923 and includes 117,530 square feet in unused air rights. It is situated close to two subway stations on Burnside Avenue and Grand Concourse as well as two bus stops, with Midtown Manhattan being 10 miles away.
Sale Price: $9.8 million
Namdar Realty Group purchased the 14,663-square-foot retail component of the residential property at 225 W. 83rd St. The seller was Nuveen Real Estate, which picked up the asset in 2011 for $44.7 million. The commercial condo was the former home of Charles Schwab and it appears to be currently vacant.
The retail condo is within the 23-story residential property at 225 W. 83rd St. in Manhattan’s Upper West Side. The building totals 327,793 square feet, 306 multifamily units and came online in 1985.
Sale Price: $5.9 million
One day later, another Upper West Side property traded. Elad Group picked up the 4.800-square-foot retail building at 2581 Broadway from Walter & Samuels Inc. The owner secured $6 million through one gap mortgage and one consolidated and restated loan from Mizrahi-Tefahot Bank.
The two-story retail asset dates back to 1901 and includes 14,190 square feet in unused air rights while having a Walk Score of 100.
Sale Price: $5.1 million
A private entity bought the 600-square-foot building in Queens’ Far Rockaway neighborhood from Red Group Management. The property last traded in 2003 for $900,000. The single-story retail building was constructed in 1972 and has 66,976 square feet of unused air rights. The asset appears to be currently vacant, PropertyShark data shows.
—Posted on April 24, 2025
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