Commercial Real Estate & Advisory

Commercial Condo Sold

August 2, 2006

Jeremy Markoe, director of Sinvin Realty Corp., and Bruce Sinder, president, have negotiated the purchase of a 12,500 s/f commercial condominium unit at 207 West 25th Street for $4.64 million.Markoe and Sinder’s buyer for the entire 12th floor of the Chelsea building is a major art foundation that wishes to remain anonymous. The unit had previously been the site of a commercial printing company, but has since been converted into luxury office space, according to Markoe.”The space is an excellent investment for the buyer,” he said. “Given the relative scarcity of commercial condos in New York, returns are typically very good. This particular space also has the potential for still higher returns, because there is a possibility that it can be converted to residential.”