JLL to sell 101 Seventh Avenue in New York
Prominently positioned mixed-use, four-story condominium offers rare repositioning opportunity
NEW YORK, March 4, 2020 — JLL Capital Markets has been retained to exclusively market and sell 101 Seventh Avenue, a 51,942-square-foot boutique office building with ground-floor retail space in New York’s Chelsea neighborhood. Regency Centers is selling the property, which previously served as the Lower Manhattan home of Barneys New York.
The four-story 101 Seventh Avenue was constructed in 1920. The property totals 51,942 square feet of space, with 14,055 square feet of retail space on the ground floor and lower level, and 37,887 square feet of office space on the second through fourth floors. The office space at 101 Seventh Avenue offers floor plates ranging from 11,312 square feet to 13,285 square feet.
The building is located at the nexus of the Chelsea, Meatpacking and Flatiron neighborhoods, and is steps from some of New York’s best shopping, dining and nightlife options. The area is also a cultural destination, with the Whitney Museum of American Art, the High Line and several high-profile architectural landmarks within walking distance. It also offers unparalleled public transportation options through Manhattan and the Outer boroughs, with the 1, 2, 3, A, C, E, F, M, L and PATH subway within a five-minute walk of the property.
The JLL Capital Markets team representing the seller includes Managing Directors Rob Rizzi and Brock Emmetsberger, Chairman of New York Investment Sales Bob Knakal, and Senior Director Chase Tagen. Managing Director Scott Aiese and Director Jillian Mariutti will provide financing guidance.
“With the recent closing of Barneys’ downtown location, 101 Seventh Avenue is a rare opportunity for investors to reposition an iconic New York property,” said Rizzi. “This property is a blank canvas, located at the intersection of New York’s most dynamic neighborhoods, and is one of the few anchor-sized opportunities available in the Midtown South market.”
“This unique space is universally adaptable, and can work for office users, tenants in the technology and media space, experiential retail concepts, and medical office space,” said Emmetsberger. “The neighborhood is home to a variety of high-profile companies.”
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.
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JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $18.0 billion, operations in over 80 countries and a global workforce of more than 93,000 as of December 31, 2019. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.