May 1, 2020
Avison Young arranged the $28.712-million sale of a retail condominium unit located at 1683 Third Ave., on behalf of a partnership headed by Extell Development Company. The asset is located within the Yorkville submarket of Manhattan’s Upper East Side and situated at the base of The Kent, a newly-constructed, 30-story luxury condominium building.
An Avison Young team comprised of James Nelson, Vincent Carrega, Neil Helman, Brent Glodowski and Angela Mulder represented the owner.
The newly-constructed property features 12,796 square feet at grade and a 9,767-square-foot lower level selling space, totaling 22,563 gross square feet. The New York City School Construction Authority leases 11,492 square feet for a pre-K school on the ground floor.
“Even in this challenging retail market, Avison Young found that there was significant interest in this investment, driven primarily by the credit of a long-term lease with the School Construction Authority,” said Nelson.
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