BY REW • JUNE 24, 2015

Benchmark sells Village retail condo for $25M

Benchmark Real Estate Group has sold a retail condo at 55 Third Avenue for nearly $25 million, according to city records.

“It was an opportune time to sell the retail condominium due to the market and our ability to drastically reduce our basis for the residential apartments upstairs,” Jordan Vogel, principal at Benchmark said.

“We have a fully renovated, fair market building now with a sub-$600 per s/f basis.”

City records indicate that the buyer of the East Village condo is 452 Amsterdam Ave Trevi LLC. No-one from Trevi Retail was available for comment by press time.

Benchmark bought 55 Third Avenue for $57 million in December 2013 and re-tooled the mixed-use building. It now contains over 50 residential units and 10,500 s/f of retail space.

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