Knitting Factory Hits the Market

NEW YORK-The fabled Knitting Factory is on the market for sale, along with the 18 residential units above it. The owner is asking $16 million for the 100% leased mixed-use building.

Adelaide Polsinelli and Laurence Ross, senior executive brokers for the Platinum Team of Besen & Associates, have the disposition.

The five-story building at 74 Leonard St. in Tribeca totals 27,000 sf: 11,000 sf for the club and 16,000 for the residential component. The Knitting Factory is reaching its 20th anniversary. The residential is split into 16 loft apartments and two larger penthouse units.

The Platinum Team also has a pair of new assignments in Queens, a lease-up and a land sale.

Bayside Plaza, at 32-41 to 32-55 Francis Lewis Blvd. has just emerged from a renovation that added a second floor to the strip center, doubling capacity. Current tenants at the 24,114-sf center include JP Morgan Chase bank and Verizon Wireless. The owner is a partnership of the Praedium Group and other individuals, Ross tells GlobeSt.com.

Existing tenants are paying an average of $47.44 per sf, with the remaining stores hoping to rent above $50 per sf. The two units available on the ground floor total about 3,000 sf. Keller Williams Realty just signed for 5,000 sf of the new construction on the second floor, leaving 7,000 sf available. Polsinelli, Ross and Ellen Volpe have the assignment.

A former lumber yard at 3202-3208 Astoria Blvd. South and 32nd St. is being offered as a development parcel. All approvals are in place to build a 39,000-sf, 25-unit residential building. The seller, a private development group with other holdings in the tri-state area, is asking $4.95 million. Polsinelli and Ross have the disposition.