127 West 24th SteetChelsea Commercial Co-op Sells to Non-Profit Rudder Property Group is pleased to announce the sale of 127 West 24th Street, a 7,518 square foot ground floor and basement commercial co-op. Chakrasambara Kadampa Meditation Center, a non-profit organization which provides meditation classes, paid $3.2 million for the Chelsea property. Rudder Property Group represented […]
This article from December 1984 highlights the construction of 55 East 59th Street, also known as Delmonico Plaza. The original asking prices were approximately $350/RSF. Recent sales have ranged from $700/RSF – $1,000/RSF. The article also mentions a number of the other commercial condominium and co-op conversions that occurred in the 1980s. The average pricing of […]
Jeffrey A. Margolis, Esq., is founding principal of The Margolis Law Firm and monthly for The Commercial Observer on legal issues, wrote a recent article on the legal aspects of the due diligence process for commercial condos and co-ops.
Sources told the New York Post that Rabbi Joshua Metzger is in contract to purchase 509 Fifth Avenue for $40 million. The Chabad Organization will convert the building to office condominiums. Rudder Property Group has been providing guidance on the conversion process to Norman Sturner’s Murray Hill Properties, Rabbi Metzger and the Chai Foundation and […]
Rudder Property Group is pleased to announce the sale of 127 West 24th Street, a 7,518 square foot ground floor and basement commercial co-op. Chakrasambara Kadampa Meditation Center, a non-profit organization which provides meditation classes, paid $3.2 million for the Chelsea property. Rudder Property Group represented the seller, TREC Rental Corp.
Rudder Property Group represented Cammeby’s International in the sale of 211 East 46th Street, a three-floor, 30,000 RSF, office condominium at the base of a residential tower. The purchaser, the Lebanese American University, paid $11 million for the property.
I received an email from a contact at Merrill Lynch that had a link to an article titled “Buying Your Building: An Upside in a Downturn”. The article highlights the low interest rate environment that we are in and how now is a great time for a company to buy their space.
RPG is extensively quoted in a recent Crain’s article about the rise of commercial condominiums.
Dan Geiger from the Commercial Observer’s recent interview with Steven Polivy on the tax-exempt bond financing program
The growing trend of commercial tenants purchasing their space is highlighted in a recent Wall Street Journal article. Bedrock Brands, a Texas company with an investment in Steven Alan and other retail brands purchased 177 Franklin Street for $14.5 million. The building was slated to become a residential building, but Bedrock and Steven Alan will use […]
