{"id":1004239769,"date":"2018-07-03T23:05:07","date_gmt":"2018-07-04T07:05:07","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004239769"},"modified":"2022-12-08T16:37:28","modified_gmt":"2022-12-09T00:37:28","slug":"manhattan-mixed-use-fetches-14m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/manhattan-mixed-use-fetches-14m\/","title":{"rendered":"Manhattan Mixed-Use Fetches $14M"},"content":{"rendered":"<p>By Evelyn Jozsa<\/p>\n<div id=\"attachment_1004239772\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/07\/224-East-53rd-St..jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004239772\" data-attachment-id=\"1004239772\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/manhattan-mixed-use-fetches-14m\/224-east-53rd-st\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/07\/224-East-53rd-St..jpg\" data-orig-size=\"800,620\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;Evelyn Jozsa&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1530640524&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"224 East 53rd St.\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;224 East 53rd St.&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/07\/224-East-53rd-St..jpg?w=800\" class=\"wp-image-1004239772 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/07\/224-East-53rd-St..jpg\" alt=\"\" width=\"300\" height=\"233\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/07\/224-East-53rd-St..jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/07\/224-East-53rd-St..jpg?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/07\/224-East-53rd-St..jpg?resize=768,595 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004239772\" class=\"wp-caption-text\">224 E. 53rd St.<\/p><\/div>\n<p>Cushman &amp; Wakefield has arranged the sale of an 11,827-square-foot mixed-use property in New York City for $14 million. The company represented the seller, Itzhaki Acquisitions. The asset features ground-floor retail and 16 apartment units.<\/p>\n<p>Situated at 224 E. 59<sup>th<\/sup> St., the property is in Manhattan\u2019s Midtown East neighborhood, between Second and Third avenues. The location provides access to public transportation, near the Lexington Avenue\/59<sup>th<\/sup> Street subway servicing the 4,5,6 N, R and W trains.<\/p>\n<p>The retail space is fully leased to Katagiri, a Japanese grocery store which has been operating in the U.S. for more than 100 years. Katagiri recently renewed its lease for approximately $187 per square foot. According to PropertyShark, the retail component encompasses 1,860 square feet. The five-story building features six rent-stabilized and 10 free-market units, including a mix of studio, one- and two-bedroom residences.<\/p>\n<p><em>\u201cThis is a perfect example of Cushman and Wakefield\u2019s unique approach of engaging the outside brokerage community in our marketing process,\u201d<\/em> said Clint Olsen, executive managing director of Cushman &amp; Wakefield, in prepared remarks. <em>\u201cWe were brought a foreign buyer who had not transacted in New York City and who paid a premium over the other interested parties.\u201d<\/em><\/p>\n<p>The brokerage team included Olsen and Associate Will Conrad. In January, the company arranged the <a href=\"https:\/\/www.commercialsearch.com\/news\/cw-arranges-sale-of-2-mixed-use-manhattan-assets\/\">sale of two mixed-use properties located in Manhattan<\/a>.<\/p>\n<p><em>Image via Google Street View<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The property comprises 16 units and includes ground floor retail space, which is fully leased to Katagiri, the oldest Japanese grocery store in the U.S. <\/p>\n","protected":false},"author":871,"featured_media":1004239772,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21783,21752,1600,21742,10],"tags":[32799,40946],"class_list":["post-1004239769","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-investment","category-mixed-use","category-new-york","category-latest","category-northeast","tag-cushman-wakefield","tag-itzhaki-acquisitions"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Manhattan Mixed-Use Fetches $14M - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/manhattan-mixed-use-fetches-14m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Manhattan Mixed-Use Fetches $14M\" \/>\n<meta property=\"og:description\" content=\"The property comprises 16 units and includes ground floor retail space, which is fully leased to Katagiri, the oldest Japanese grocery store in the U.S.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/manhattan-mixed-use-fetches-14m\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2018-07-04T07:05:07+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T00:37:28+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/07\/224-East-53rd-St..jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Evelyn Jozsa\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/manhattan-mixed-use-fetches-14m\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/manhattan-mixed-use-fetches-14m\\\/\"},\"author\":{\"name\":\"Evelyn Jozsa\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/7a1fad8f1e02fa4d8f81f7e9ad21736a\"},\"headline\":\"Manhattan Mixed-Use Fetches $14M\",\"datePublished\":\"2018-07-04T07:05:07+00:00\",\"dateModified\":\"2022-12-09T00:37:28+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/manhattan-mixed-use-fetches-14m\\\/\"},\"wordCount\":238,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/manhattan-mixed-use-fetches-14m\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2018\\\/07\\\/224-East-53rd-St..jpg\",\"keywords\":[\"Cushman &amp; 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