The Astor retail condo on Manhattan’s Upper West Side sells

NEW YORK, N.Y., July 11, 2023 – JLL Capital Markets announced the sale of a 31,200-square-foot retail condominium at the base of The Astor, a luxury apartment tower located on West 75th Street in Manhattan’s West End Collegiate Historic District. The space features over 400 feet of block-through, wrap-around frontage in the heart of the Upper West Side’s Broadway shopping corridor.

JLL represented the seller, the Vanbarton Group, and the buyer, a joint venture of Waterfall Asset Management and RFR Holding. The sale price was $38.7 million.

Comprised of 18,920 square feet on grade, with an additional 13,041 square feet of lower-level space, the property is currently configured as seven retail units, three of which are occupied by tenants Ever/Body, SPEAR Physical Therapy and Drop Spot Cleaners.

Situated on a prominent corner, steps from the Columbus Circle A, C, B, D and 1 lines, Central Park and Columbus Circle, 2139-2159 Broadway is surrounded by iconic grocers, renowned entertainment venues, high-end hotels and a bevy of national retailers that ensure a steady stream of foot traffic. The flagship locations of Fairway and Citarella Markets are located one block to the south, the world-famous Beacon Theater is directly across Broadway and national brands, including The North Face, Trader Joe’s, Lush, SEPHORA and TD Bank, all line the avenue running south to West 72nd Street.

The JLL Capital Markets team that arranged the transaction included Senior Managing Director Jeff Julien and Managing Directors Hall Oster and Paul Smadbeck.

“The Astor retail presented a rare opportunity to acquire a full block-front in the heart of the Upper West Side’s Broadway corridor,” said Oster. “Future ownership will benefit from a recovering market with one of the most desirable stretches of neighborhood retail in NYC.”

Currently, over 17 large-scale, residential developments have been completed or are in the development pipeline between West 69th and West 103rd Streets. These new developments are adding over 315 new units to the housing stock within six blocks of the property, producing substantial growth in foot traffic along Broadway down through Verdi Square and the 72nd subway station.

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 sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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