$595 a Foot On Park Avenue South

220 park ave s $595 a Foot On Park Avenue SouthThe mixed-use residential and retail property, 220 Park Avenue South, near Gramercy Park and Union Square has sold for $20 million, brokers said. With a taking price of $595 per square foot, the turn-of-the-century, 33,638-square-foot building and its 37 rental units could be ripe for a condo conversion, said Peter Von Der Ahe of Marcus & Millichap Real Estate Investment Services, which negotiated the sale.

“This building presents the new ownership with many future redevelopment opportunities, including conversion to condos,” said Mr. Von Der Ahe of the building, which also houses the restaurant Haru in a 2,650-square-foot retail space. “In this particular submarket, property owners have commanded north of $1,300-plus per square foot for newly constructed condominiums.”



Article continues below
More from Politics
2. The general election. In November, whichever two candidates make it out of the gubernatorial primary will face off to become the next New Jersey governor. While Phil Murphy (pictured) is the presumed favorite in the race due to current New Jersey Governor Chris Christie’s dismal approval ratings tanking Republican credibility for many NJ voters, the results are still up in the air. Additionally, with 11 months until the race, there is still ample time for a dynamic shift that could leave another candidate at the top.
Murphy Batters Wisniewski at Monmouth Dems Convention