Real Estate Weekly | July 31, 2019
GFI Realty Services, LLC today announced that it has been named the exclusive sales agent for 1325 & 1330 5th Avenue, a 33,047 s/f retail condo package located along 5th Avenue, one block north of Central Park. The retail condo package is comprised of thirteen occupied units, including Maxwell’s Central Park restaurant and Birch Coffee.
The asset resides at the base of two newly renovated luxury six-story elevator condominium buildings, known as The Fifth Avenue. The twin buildings are ideally located steps from Central Park and just north of Museum Mile. The retail condo occupies both sides of Fifth Avenue with each building featuring a total of 200 feet of Fifth Avenue retail frontage.
GFI Realty managing partner Matthew Sparks will oversee the sale of the package, with pricing targeted at $19.5 million.
“Over time an investor will be able to create a lifestyle retail destination,” said Sparks.
The location is near the 2, 3, & 6 subway lines, various bus routes and Citi Bike stations.