Top 5 NYC Retail Building Sales—February 2025
A recap of recent major transactions compiled by PropertyShark.
Sale Price: $27 million
Premier Equities has purchased the 13,242-square-foot retail property in downtown Flushing, N.Y., from Riesenburger Properties, in early February. The buyer also secured a $24.5 million loan from Citi Real Estate Funding Inc., with a maturity date set for 2030. A Meridian Capital Group team including Senior Managing Director Cary Pollack and Vice President Judah Neuman represented Premier Equities in securing the financing, Commercial Observer reported.
The three-story building dates back to 1920 and was last upgraded in 2012. Luxury watches and jewelry brand Carat & Co. is currently leasing the property.
Sale Price: $25 million
Extell Development has sold the retail part of The Briarcliffe building in Manhattan’s Billionaires Row to an entity affiliated with real estate investor Cindy K. Chan. The retail unit totals 9,975 square feet and is currently occupied by Chase Bank and Oak and Steel Fine Wines, an artisan crafted wine distributor.
The ground-floor retail unit at The Briarcliffe previously traded in 2023 for $11.4 million, when Extell Development bought it back from Forrell & Thomas music company, that acquired the space in 2006. The Briarcliffe is a 98,263-square-foot, 13-story residential building completed in 1922. Initially designed as a hotel, the property was converted to a 35-unit condominium in 1999.
Sale Price: $9.3 million
Italian restaurant brand Rosemary’s bought the 4,320-square-foot Greenwich Village retail building from Duell Management. CBRE brokered the deal on behalf of the seller, Crain’s New York Business reported.
The Rosemary’s chain is owned by Casa Nela, a restaurant group founded by Carlos Suarez that also includes other brands in New York City, such as Roey’s and Bobo. The property at 18-20 Greenwich Ave. is known as Rosemary’s West Village and has been functioning since 2012, according to its website. The one-story building was completed in 1920, last renovated in 2011 and includes 10,546 square feet of air rights.
Sale Price: $5.8 million
Another Greenwich Village property changed hands a week earlier. An entity related to Virginia-based Belvedere Property Management sold the three-story, 5,354-square-foot retail asset to a private investor. The buyer also secured $2.8 million in acquisition funds, with the seller as lender.
The property includes two commercial units, 2,000 square feet of storage space, 6,171 square feet of air rights and was previously occupied by a Jekyll & Hyde Club and a Mexican restaurant.
Sale Price: $5.5 million
BNS Real Estate sold the single-story retail property to a private investor. The seller also issued a $2.5 million loan on behalf of the new owner. The 16,400-square-foot building was completed in 1929 and features four commercial units. Current tenants at the asset include Total Wireless by Verizon, Metro by T-Mobile and Discount Bazaar.
The retail property is situated within the borough’s Concourse Village neighborhood and is close to multiple bus stops as well as to Melrose Train Station.
—Posted on March 27, 2025
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