Cushman & Wakefield Negotiates $55.25M Sale Two Buildings in Manhattan

NEW YORK CITY — Cushman & Wakefield has brokered the sale of a two vacant and gutted buildings located at 346-350 W. 71st St. on Manhattan’s Upper West Side. Cydonia RE W71 Inc. acquired the assets from 346 West 71 Realty LLC and 350 West Realty LLC for $55.25 million, or $840 per square foot. The adjacent seven-story buildings sit on a 102-foot by 126-foot lot and total 65,772 square feet above grade and 10,000 square feet on the lower level. Prior to sale, the buildings were gutted and positioned for a purchaser to renovate as either luxury condominiums or rental apartments. Hall Oster, Paul Smadbeck, Teddy Galligan and Robert Stufano of Cushman & Wakefield represented the sellers, while DNA Development represented the buyer in the deal.

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