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New York City

The Hammacher Schlemmer Building at 145 E. 57th St. has sold to a Brazilian real estate developer for $34 million, or approximately $550 per square foot, CB Richard Ellis announced this week. The New York Post had reported last work that the developer was the Malzoni Group, based in Sao Paolo, Brazil; CBRE declined to comment on the Post report. Hammacher Schlemmer has net-leased the entire 62,000-square-foot property, which was built for the retailer in 1926. That lease, which includes the retailer’s flagship store, will expire later in the year, along with the remaining office subleases. Darcy Stacom and Paul Gillen of CBRE’s investment properties group, along with Robert Garrish of CBRE’s private client group, represented seller Jenel Management Corp. in the transaction. Malzoni was reportedly represented by Prudential Douglas Elliman’s Louis Puopolo, who told the Post that the acquisition was the buyer’s first in New York.

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