Investors eager to snap up property on New York's most famous retail corridors are in luck: The New York-based Duell family is putting on the market a portfolio of prime retail locations, according to Bloomberg. The asking price for the portfolio, which consists of nine mostly retail properties, is $300 million, according to a source.
Darcy Stacom, a broker at CBRE who is establishing her own firm, is handling the sale, Bloomberg says. Seven of the buildings are in Greenwich Village and two are in Midtown with the "crown jewel", according to Stacom, located at 5 E. 57th St., a tower just off Fifth Avenue with a David Yurman store at the base. That building is 90% occupied with the David Yurman lease running through early 2028. It is close to the part of Fifth Avenue where Kering SA and Prada SpA recently acquired properties.
"People have been chasing these properties for a very, very long time," Stacom told Bloomberg. "It's clear that the money is concentrating in the 1% of the space, whether that be the highest-quality residential, highest-quality retail or highest-quality office."
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