As Fifth Avenue battles back from the pandemic, a new listing in the heart of the shopping corridor will test the strength of its recovery.
The leasehold for 587 Fifth Avenue, a 10-story, mixed-use building between 47th and 48th Streets, is hitting the market asking $36 million. Steve Kassin’s Infinity Collective holds the ground lease, public records show. Zachary Redding and Dylan Kane of B6 Real Estate Advisors have the listing.
Mid-market investment sales total $158M in the last week of July, up from $113M the week prior.
As of last week, the delta variant accounted for a total of 83% of New York City’s Covid-19 cases, driving a rise in the spread of the coronavirus after widespread vaccinations seemed to have brought the pandemic close to an end earlier this summer.
B6 Real Estate Advisors has brokered the $3.1 million sale of a 10,550-square-foot building located in the Corona neighborhood of Queens.
When Kathy Hochul, who will soon become the first female governor of New York, served on the Town Board of Hamburg, New York, she was known as a competent local politician who surrounded herself with smart people and took a thoughtful approach to commercial and economic development.
Built in 1921, this eight-story, 15,550-square-foot building in Midtown contains five floors of office space, two floors of salon space and a retail space at ground level.