Upper East Side Retail Condo Leased to Home Depot Trades for $153M

The approximately 94,447-square-foot pair of retail condos and 28,702-square-foot garage unit have been purchased by Hennick & Co., a private firm founded by real estate firm Colliers’ CEO Jay Hennick’s family. The sale by Gazit Horizons, a subsidiary of Israel-based G City (formerly Gazit Globe) fetched $153 million. Situated at the base of Bridge Tower Place, a mixed-use condominium located at 401 East 60th Street (with an alternate address of 410 East 61st Street), the retail is fully leased to a Starbucks and anchored by Home Depot. The Atlanta-based home improvement chain signed a 20-year lease in 2021 to relocate upon 2025 lease expiration of its current 78,600-square-foot space at 731 Lexington Avenue (with an alternate address of 980 Third Avenue) to the approximately 120,000-square-foot space formerly home to Bed Bath & Beyond.

Source:    https://product.costar.com/home/news/1504301098

Source :  https://www.gazithorizons.com/wp-content/uploads/2021/02/CoStar-News-1-1.pdf