Eastern Consolidated to Sell Office/Retail Property

Eastern Consolidated has been tapped by the Parkoff Organization to sell office and retail property located in Rockefeller Center as well as 15,000 square feet of air rights for $36 million. Eastern’s Executive Managing Directors Eric M. Aton and Ronald A. Solraz and Senior Directors David Shechtman and Marcia Yawitz are responsible for selling the nine-story, 43,744-square-foot building, which has a soon-to-be-vacant 14,400 square-foot retail component with ground floor, mezzanine, and lower level space.

The property is half a block from Fifth Avenue and close to the Radio City Music Hall foot traffic. The building’s retail component features 50 feet of frontage along West 51st Street.

The middle seven floors are occupied by tenants paying below market rents and who are on leases that are expiring soon, enabling the new owner to re-lease the space with today’s rates for long-term occupancy.