NEW YORK CITY-A 13-story, 66,530-sf luxury residential tower, located in lower Manhattan at 110 Greenwich St., is on the market for sale. Sources close to the deal expect that the property could fetch “somewhere north of $42 million.”

The source tells that the seller is Jakobson Properties, a locally based longtime owner and operator. “They are selling to take advantage of market fundamentals.”

The bid deadline for the sale is March 5 at 3 pm. Locally based Eastern Consolidated senior director Robert Ortiz and senior associate Paul Nigido are partnering with senior associates Michael Forrest and David Shorenstein of Marcus Millichap in the sale of the property, which could potentially be converted to a condominium, corporate residences, a hotel, or offices.

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