10/16/2007

Cushman & Wakefield brokers sale of Manhattan building for $231M

by

230 Park Avenue South

An affiliate of Rockrose Development Corp. acquired the Gramercy Court Building at 230 Park Ave. South for $230 million.

Both Rockrose and the seller, Park 230 SPE LLC, were represented by Cushman & Wakefield's New York Capital Markets Group of Executive Directors Richard Baxter, Jon Caplan, Yoron Cohen and Scott Latham.

The Class B office building is situated at 230 Park Ave. South at the corner of East 19th Street in the Gramercy Park submarket. It spans 386,000 square feet of space among its 13 stories.

The building was fully leased at the time of sale to tenants such as Chase Manhattan, Gullane Entertainment, HIT entertainment and E.D.P. World Inc.

Rockrose Development Corp. is a family owned real estate development and management firm. The company has interests in commercial, retail and residential properties in New York City and Washington D.C. It's currently developing East Coast on Long Island City, a 22-acre parcel of waterfront property on the East River that will consist of 3,000 luxury apartments and 120,000 square feet of retail space.

Caplan and Latham joined Cushman & Wakefield from CB Richard Ellis Inc. in 2002.

Baxter and Cohen joined in 2003. The Manhattan investment sales brokers previously worked for Insignia/ESG's capital.

Address: 230 Park Ave. South, New York City, N.Y.

Size: 13 story/386,000 square feet

Built: 1895

---

Filed Under: Office

E-mail this article to a friend | Printer friendly format| DIGG this| Post to del.icio.us

Comments on this article

No comments have been posted in the last 15 days!

Send us your comments on this article

* - Required fields Subject: * Message: * Contact Name: * Contact URL: Contact Email: * Write the characters in the image above:

Related Headlines

• Colliers International welcomes three brokers in California - 5/29/2009
• Texas hotel sells for $4.275M - 5/29/2009
• Massey Knakal lists NoHo retail building for $5.95M - 5/29/2009
• California industrial building sells for nearly $3 million - 5/29/2009
• NAI facilitates sale of Alaska mixed-use building - 5/28/2009
• Long Beach retail center commands $6.05M - 5/28/2009
• Florida land fetches $2.725M - 5/28/2009
• Marcus & Millichap list Virginia retail store for more than $10.2M - 5/28/2009
• Colliers Arnold stays busy in Tampa - 5/27/2009
• Colliers sells two buildings in California - 5/27/2009