Commercial Real Estate & Advisory

Terminal Warehouse

By Lois Weiss | May 25, 2004

Between the BricksLiveAuctions, which handles Internet auctions for companies like Sotheby’s, is moving out of its workers’ homes into real space.The Internet start-up nailed down on of the best spots in the Terminal Warehouse Building on the north corner at 27th Street at Twelfth Avenue.The asking rent for the 3,700 square feet on the second floor was $24 a foot but it comes with uninterrupted views of the Hudson River.”That’s obviously a fantastic space,” said Roxanne Betesh of Sinvin Realty, who is representing the owners for the ground floor retail but got the lead for this tenant along with company head Bruce Sinder.The building is creating an indoor marketplace for home furnishings and other retailers in the former Tunnel Club, which extends through the property from 11th to 12th Avenues.”Chelsea Market has mostly food but we would like to have an ecclectic mix,” added Betesh.Christopher Townley of Christopher Townley Real Estate, represented the auctioneers.Asking retail rents run from $30 th $35 a foot;  the usable basements are $8 a foot.Christopher Flagg of Waterfront  NY., the building’s owner, worked on the deal with Sinvin.