Avison Young has successfully facilitated the sale of a 17,000-square-foot office building located at 14 E. 52nd St. for $19.5 million on behalf of Inmoprisa USA, Inc. The former occupant, Pronovias, a luxury wedding dress company, vacated the property in 2020.
The buyer is developer Ramirez & Co., who plans to reposition the building for their own use. Representing Inmoprisa USA were James Nelson (principal and head of Tri-State Investment Sales), Eric Karmitz and Brent Glodowski (directors), and Alexandra Marolda (associate director). Jeff Berman from Berkshire Hathaway represented Ramirez & Co.
According to Karmitz: “This property is ideal for an owner/occupier and we are pleased to have received significant interest from investors/developers before ultimately closing at a premium price.” He also noted that there has been a notable shift in Manhattan’s retail and office market as more owner/occupiers are actively purchasing real estate for their personal businesses – with this transaction being an excellent example.
The post titled “Avison Young Closes Midtown Sale to Owner-Occupier” was originally published by Connect CRE.
