SINGLE TENANT FLAGSHIP RETAIL CO-OP
ON EXCLUSIVE FIFTH AVENUE RETAIL THOROUGHFARE
85 Fifth Avenue
New York, NY 10011
LOCATION:
FRONTAGE:
BLOCK / LOT:
LOT SIZE:
BUILDING DIMENSIONS:
GROSS SF:
GROUND FLOOR:
LOWER LEVEL:
TOTAL GROSS SF:
On the northeast corner of Fifth Avenue and East 16th Street
49’ on Fifth Avenue & 140’ on East 16th Street
844 / 1
(approx.)
7,990 SF
(approx.)
49’ x 140’
RETAIL UNITS:
CURRENT TENANT:
1
Anthropologie
YEAR BUILT:
HISTORIC DISTRICT:
LANDMARK:
1901
Ladies’ Mile
None
6,406 SF
6,540 SF
12,946 SF
(approx.)
(approx.)
(approx.)
ASKING PRICE:
Ow ner shi p Request P rop os al s
PROPERTY DESCRIPTION:
Massey Knakal Realty Services is pleased to present a flagship retail co-op opportunity situated
at the base of 85 Fifth Avenue. Located on the northeast corner of Fifth Avenue and East 16th
Street, the offering benefits from an abundance of foot traffic and excellent visibility in one of
Manhattan’s most dynamic retail markets. On any given day, hundreds of thousands of local and
foreign shoppers frequent the exclusive shopping row that is flooded with high-end retailers and
globally recognized, brand name tenants.
Presently, 85 Fifth Avenue is home to Anthropologie who is scheduled to remain in the space until
April of 2021 with no remaining renewal options. The turn-key retail space benefits from superior
frontage with approximately 49’ on Fifth Avenue and an additional 140’ on East 16th Street. In
total, there is approximately 12,946 sf of combined sellable space containing roughly 6,406 sf
of above grade space and about 6,540 sf of sellable lower level space, both of which feature
soaring ceiling heights of approximately 15’6” and up to 10’10”, respectively. Additional traits of
the beautiful build out include an internal staircase, an independent elevator and an independent
HVAC system.
FINANCIAL SNAPSHOT:
$3,539,775
$3,885,087
$3,400,000
4/2021
None
PROJECTED RENT 2015:
RENT ESCALATION 2018 (9%):
PROJECTED NOI 2015:
LEASE EXPIRATION:
RENEWAL OPTIONS:
FIFTH AVE
49’
BLOCK
844
LOT 1
140’
E A S T 1 6 TH S T
UNION SQUARE W
E A S T 1 7 TH S T
Anthropologie is a popular American based women’s clothing retailer that operates over 175
retail stores worldwide. A subsidiary of Urban Outfitters, the company is celebrated as a top 10
apparel retailer in the United States by the National Retail Federation. Neighboring retailers to
Anthropologie include national brands such as J.Crew, Banana Republic, Coach, Free People and
Gap.
Union Square is home to over 70,000 residents, 150,000 employees and 40,000 students offering
a thriving cultural, business and educational hub. The neighborhood also hosts Union Square
Park, one of Manhattan’s most premier outdoor spaces that serves as an iconic gathering point.
The area’s convenient location serves over 380,000 daily individuals via the
and
subway lines. Overall, the retail co-op at 85 Fifth Avenue presents an outstanding opportunity
for an investor to immediately establish a footprint in one of Manhattan’s most desirable shopping
districts with a long term commitment to their space from a national credit tenant.
For further information or inspection, please contact Exclusive Agents:
Robert Knakal
Chairman
rknakal@masseyknakal.com
212.696.2500 x7777
John Ciraulo
Partner
jciraulo@masseyknakal.com
212.696.2500 x7700
Jonathan Hageman
Craig Waggner
Patrick Yannotta
Sales Team Manager
Director of Sales
Associate
jhageman@masseyknakal.com cwaggner@masseyknakal.com pyannotta@masseyknakal.com
212.696.2500 x7773
212.696.2500 x7744
212.696.2500 x7791
For information on possible
financing, please contact:
Scott Aiese
Director - Capital Services
saiese@masseyknakal.com
212.696.2500 x7738
The information contained herein has either been given to us by the owner of the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee it. All zoning,
buildable footages and uses must be independently verified. The value of this investment is dependent upon these estimates and assumptions made above, as well as the investment income, the tax bracket, and other
factors which your tax advisor and/or legal counsel should evaluate. THE PROSPECTIVE BUYER SHOULD CAREFULLY VERIFY EACH ITEM OF INCOME, AND ALL OTHER INFORMATION HEREIN.
275 Madison Avenue • Third Floor • New York, NY 10016 • 212.696.2500 • Fax 212.696.0333
www.masseyknakal.com
THE BRONX BROOKLYN MANHATTAN NASSAU NEW JERSEY QUEENS STATEN ISLAND WESTCHESTER
SINGLE TENANT FLAGSHIP RETAIL CO-OP
ON EXCLUSIVE FIFTH AVENUE RETAIL THOROUGHFARE
85 Fifth Avenue
New York, NY 10011
MADISON
EAST 24TH STREET
PARK
Schnipper's
Quality Kitchen
Magia
EAST 23RD STREET
(ATM)
LEXINGTON AVENUE
SQUARE
EAST 22ND STREET
Wolf Home
Maison
Kayser
Novitá
Stuzzi Ristarante
EAST 21ST STREET
GRAMERCY
Bravo Pizza
PARK
Safavieh Carpet
EAST 20TH STREET
Beecher’s
Handmade Cheese
Craft Bar
EAST 19TH STREET
ABC Carpet & Home
Paragon Sporting Goods
Women
Morton’s (coming soon)
Fresh
EAST 17TH STREET
Men
85
Fifth
Avenue
Rothmans
Azuki
IRVING PLACE
EAST 18TH STREET
L’express
PARK AVENUE SOUTH
ABC Carpet
Barbounia
NY Film Academy
Optique
Republic
Blue Water Grill
EAST 16TH STREET
Coffeshop
UNION
SQUARE
PARK
EAST 15TH STREET
Fuerza Bruta
EAST 14TH STREET
Max Brenner’s
Dos Toros
Roast Kitchen
WEST 13TH STREET
EAST 13TH STREET
275 Madison Avenue • Third Floor • New York, NY 10016 • 212.696.2500 • Fax 212.696.0333
www.masseyknakal.com
THE BRONX BROOKLYN MANHATTAN NASSAU NEW JERSEY QUEENS STATEN ISLAND WESTCHESTER
SINGLE TENANT FLAGSHIP RETAIL CO-OP
ON EXCLUSIVE FIFTH AVENUE RETAIL THOROUGHFARE
85 Fifth Avenue
New York, NY 10011
85GROUND
Fifth
Avenue
FLOOR
PLAN
Grou
BUILDING MAIN
LOBBY AREA (NOT
SURVEYED)
BUILDING MAIN
ENTRY
Anthropologie, Inc.
6,406 Mkt RSF
4/30/2021
DN.
UP
DN.
DN.
EXIT
5th Avenue
LANDING
ELEV
FREIGHT
ELEV
UP
UP
East 16th Street
Date Printed: 10/16/2014
For complete listing, visit
www.rfrspace.com
N
Not to scale. All dimensions and condi
are approximate and for information on
For further information or inspection, please contact Exclusive Agents:
Robert Knakal
Chairman
rknakal@masseyknakal.com
212.696.2500 x7777
John Ciraulo
Partner
jciraulo@masseyknakal.com
212.696.2500 x7700
Jonathan Hageman
Craig Waggner
Patrick Yannotta
Sales Team Manager
Director of Sales
Associate
jhageman@masseyknakal.com cwaggner@masseyknakal.com pyannotta@masseyknakal.com
212.696.2500 x7773
212.696.2500 x7744
212.696.2500 x7791
For information on possible
financing, please contact:
Scott Aiese
Director - Capital Services
saiese@masseyknakal.com
212.696.2500 x7738
The information contained herein has either been given to us by the owner of the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee it. All zoning,
buildable footages and uses must be independently verified. The value of this investment is dependent upon these estimates and assumptions made above, as well as the investment income, the tax bracket, and other
factors which your tax advisor and/or legal counsel should evaluate. THE PROSPECTIVE BUYER SHOULD CAREFULLY VERIFY EACH ITEM OF INCOME, AND ALL OTHER INFORMATION HEREIN.
275 Madison Avenue • Third Floor • New York, NY 10016 • 212.696.2500 • Fax 212.696.0333
www.masseyknakal.com
THE BRONX BROOKLYN MANHATTAN NASSAU NEW JERSEY QUEENS STATEN ISLAND WESTCHESTER
SINGLE TENANT FLAGSHIP RETAIL CO-OP
ON EXCLUSIVE FIFTH AVENUE RETAIL THOROUGHFARE
85 Fifth Avenue
New York, NY 10011
LOWER LEVEL FLOOR PLAN
85 Fifth Avenue
Basement
EXIT
UP
Anthropologie, Inc.
6,540 Mkt RSF
4/30/2021
UP
LANDING
5th Avenue
ELEV
FREIGHT
ELEV
East 16th Street
Date Printed: 10/27/2014
For complete listing, visit
www.rfrspace.com
N
Not to scale. All dimensions and conditions
are approximate and for information only.
For further information or inspection, please contact Exclusive Agents:
Robert Knakal
Chairman
rknakal@masseyknakal.com
212.696.2500 x7777
John Ciraulo
Partner
jciraulo@masseyknakal.com
212.696.2500 x7700
Jonathan Hageman
Craig Waggner
Patrick Yannotta
Sales Team Manager
Director of Sales
Associate
jhageman@masseyknakal.com cwaggner@masseyknakal.com pyannotta@masseyknakal.com
212.696.2500 x7773
212.696.2500 x7744
212.696.2500 x7791
For information on possible
financing, please contact:
Scott Aiese
Director - Capital Services
saiese@masseyknakal.com
212.696.2500 x7738
The information contained herein has either been given to us by the owner of the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee it. All zoning,
buildable footages and uses must be independently verified. The value of this investment is dependent upon these estimates and assumptions made above, as well as the investment income, the tax bracket, and other
factors which your tax advisor and/or legal counsel should evaluate. THE PROSPECTIVE BUYER SHOULD CAREFULLY VERIFY EACH ITEM OF INCOME, AND ALL OTHER INFORMATION HEREIN.
275 Madison Avenue • Third Floor • New York, NY 10016 • 212.696.2500 • Fax 212.696.0333
www.masseyknakal.com
THE BRONX BROOKLYN MANHATTAN NASSAU NEW JERSEY QUEENS STATEN ISLAND WESTCHESTER
CONFIDENTIALITY AGREEMENT
(PRINCIPAL)
In connection with a proposed transaction (the “Proposed Transaction”) involving the purchase of, or the acquisition
of a direct or indirect interest or investment in (i) the land and improvements, or any portion thereof, and/or (ii) certain
indebtedness secured directly by or by equity interests in the ownership of the land and improvements, or any portion
thereof, referred to on Schedule I attached hereto (the “Property”) by the undersigned (the “Company”), the
Company has requested that RFR HOLDING LLC and its affiliates with an interest in the Property (the “Disclosing
Party”) provide the Company with certain Confidential Information (as hereinafter defined) relating to the Property.
In consideration of the Disclosing Party’s furnishing the Company with the Confidential Information and as a
condition precedent thereto, the Company hereby agrees, for the benefit of the Disclosing Party and its Representatives
(as hereinafter defined), as follows:
1.
In connection with the Proposed Transaction, it is understood that the Disclosing Party and its
Representatives are prepared to furnish the Company with certain oral and written information concerning
the Property that is or may be nonpublic, confidential and/or proprietary in nature, which may include,
without limitation, contracts, documents, files, appraisals, site plans, reports, analysis (financial or otherwise)
and studies and computer data or files, some or all of which may have been provided to the Disclosing Party
on a confidential basis (but even if not provided to the Disclosing Party on a confidential basis, any such
information shall be deemed confidential hereunder unless otherwise expressly provided for herein). All
such information, regardless of the manner in which it is furnished by the Disclosing Party or its
Representatives to the Company and its Representatives, as well as the Company’s interest in the Property
or the Proposed Transaction and any discussions between the Disclosing Party and the Company or its or
their Representatives, shall, except as otherwise permitted hereunder, be kept strictly confidential by the
Company (including its affiliates); all such information, interest and discussions are hereinafter referred to,
collectively, as the “Confidential Information.” Notwithstanding the foregoing, the term “Confidential
Information” shall not be deemed to include information which (i) is or becomes available to the Company
or its Representatives from a source other than the Disclosing Party or its Representatives, provided that such
source is not bound by a confidentiality agreement with the Disclosing Party or its Representatives or is not
otherwise bound to keep such information confidential by any legal or fiduciary obligation and/or (ii) is or
becomes generally available to the public through a source other than the Company or its Representatives.
The Confidential Information shall be used by the Company and its Representatives solely for purpose of
evaluating the Proposed Transaction for its own account, as a principal, and not as a broker, finder or similar
agent for any other person. Without the prior written consent of the Disclosing Party, the Company will not,
nor will it permit its Representatives to, contact any of the Disclosing Party’s Representatives, investors,
lenders, lessors, tenants, property managers, consultants or advisors related to or having an interest (through
contract or otherwise) in the Property, in connection with, or otherwise with respect to, the Confidential
Information, the Property (including as to its operations or finances) or the Proposed Transaction. For the
purposes hereof, the “Representatives” of each party hereto (each, a “Party”; and collectively, the “Parties”)
shall mean (i) with respect to the Disclosing Party, its officers, directors, controlling persons, affiliates,
members, employees, attorneys, accountants, consultants and third-party professionals who may prepare or
provide Confidential Information directly or indirectly to the Company and its Representatives, and (ii) with
respect to the Company, its respective officers, directors, controlling persons, affiliates, members, employees,
attorneys and accountants who need to know the Confidential Information for the express purpose of assisting
the Company with its evaluation of the Proposed Transaction. Notwithstanding the foregoing, the Company
may disclose the Confidential Information, on a limited basis, only to those of its Representatives who need
access to the Confidential Information for purposes of evaluating the Proposed Transaction on behalf of the
Company. The Company shall inform each of its Representatives that receives any of the Confidential
Information of the requirements of this agreement and shall require each such party to comply with such
requirements. The Company agrees that it will be responsible for any breach of the terms of this agreement
by any of the Company’s Representatives, and will be responsible to the Disclosing Party for, and hold the
Disclosing Party and its Representatives harmless from, any loss, cost, expense claim or liability arising from
a breach of this agreement by the Company or its Representatives. The Company agrees to notify the
Disclosing Party, upon request, as to the identity of any Representatives to whom the Company has or is to
provide any Confidential Information.
2.
If any person seeks to compel the Company or any of its Representatives to disclose any Confidential
Information under compulsion of law (by oral questions, interrogatories, requests for documents subpoena,
civil investigative demand or similar process), the Company shall promptly notify the Disclosing Party
thereof prior to any such disclosure so that the Disclosing Party may have an opportunity to seek a protective
order or other appropriate remedy (provided that the foregoing shall not be deemed to require that the
Company or any of its Representatives refuse to comply with any such disclosure request or demand beyond
the time specified for such disclosure). The Company agrees to cooperate with the Disclosing Party in any
manner which may be reasonably requested by the Disclosing Party, at no cost or expense to the Company
(other than de minimis expenses), in order to seek any such protective order or other appropriate remedy.
3.
The Company (on behalf of itself and its Representatives) acknowledges that remedies at law may be
inadequate to protect the Disclosing Party against a breach of this agreement by the Company or its
Representatives. The Company therefore agrees that in the event that the Company or its Representatives
have breached the terms of this agreement, then without prejudice to the rights and remedies otherwise
available to the Disclosing Party, the Company acknowledges and agrees that the Disclosing Party shall be
entitled to seek equitable relief, without proof of actual damages or any obligation to post a bond or other
security therefor, including the right to apply to a court of competent jurisdiction for a temporary or
permanent injunction or other appropriate decree of specific performance in order to enjoin a breach of this
agreement.
4.
The Company agrees not to provide, communicate, or disclose to any third party other than the Company’s
Representatives as provided for herein, directly or indirectly, the Confidential Information, except as required
by judicial process as provided in Section 2 hereof, without in each instance the prior written consent of the
Disclosing Party, which consent may be withheld in its sole discretion, and then only after such third party
executes a confidentiality agreement in favor of the Disclosing Party substantially in the form of this
agreement.
5.
The Company agrees that, promptly upon the Disclosing Party’s request, the Company and its
Representatives shall surrender to the Disclosing Party or destroy the Confidential Information and all
derivatives thereof. The Company acknowledges that all such items are the exclusive property of the
Disclosing Party and agrees to (i) return or destroy all Confidential Information and its derivatives in tangible
form within five (5) business days after written request therefore, such request given at any time at the sole
option of the Disclosing Party and (ii) erase any copies of any of the foregoing recorded on any electronic
media or optical device. Such return or destruction of Confidential Information and all derivatives thereof,
and the erasing of any copies of the foregoing recorded on any electronic media or optical device, shall, upon
the written request of the Disclosing Party, be certified in writing to the Disclosing Party by the Company.
6.
The Company further acknowledges and agrees that: (a) neither the provision of the Confidential Information
by the Disclosing Parties nor any conversations between any of the Disclosing Party or its Representatives,
on the one hand, and the Company, or any of its respective Representatives, on the other hand, shall in any
manner constitute an offer or otherwise create any liability or obligation on the part of the Disclosing Party
or any of its Representatives; (b) the Disclosing Party makes no representation or warranty to Company as
to the accuracy or completeness of the Confidential Information; the Disclosing Party shall have no liability
to Company or any of its Representatives resulting from the use of or reliance on the Confidential
Information; that the Disclosing Party is not responsible to determine whether any hazardous wastes or
substances or other undesirable materials are present at the Property; (c) the Disclosing Party may accept or
reject any offer, or cease negotiations at any point in time, in its sole and absolute discretion without incurring
any liability to the Company; (d) notwithstanding anything to the contrary, the Company represents and
warrants that it has not dealt with any broker in connection with the Proposed Transaction other than Massey
Knakal, and Company agrees that it shall be solely responsible for payment of any fee, commission or other
compensation that may be claimed by any broker other than Massey Knakal; and (e) the Company shall
indemnify, defend and hold harmless the Disclosing Party and its Representatives from and against any and
all claims, liabilities and expenses relating to or arising out of any claim for brokerage commission or other
compensation by any person or entity claiming by, through or under the Company in connection with the
Proposed Transaction, other than Massey Knakal.
2
7.
Other than in conjunction with the Disclosing Party or any of its affiliates, the Company will not, and will
cause each of its Representatives not to, directly or indirectly (whether acting alone or as part of any two or
more persons or entities acting, formally or informally, whether as a partnership, limited liability company,
corporation or other venture or group, or acting in concert with any other person or entity), (i) acquire or
agree, offer, seek or propose to acquire, ownership (including but not limited to beneficial ownership) of the
Property or any interest therein or portion thereof, any of the assets or any indebtedness or other obligation
(or interest therein) described in the Confidential Information or otherwise related to any subsidiaries or
affiliates of the Disclosing Party who have an ownership interest in the Disclosing Party or the Property; (ii)
acquire or agree, offer, seek or propose to acquire, ownership (including but not limited to beneficial
ownership or through profit participation) of or in any partnership, limited liability company, shareholder or
other equity interest in, any owner, lender, borrower or other party having an interest in the Property or any
portion thereof or any other indebtedness or other obligation described in the Confidential Information; or
(iii) advise, assist, encourage or finance (or assist or arrange financing to or for) any other person or entity in
connection with any of the matters restricted by, or to otherwise seek to circumvent the limitations of the
provisions of, this Section 7.
8.
This agreement contains the entire agreement by the Company concerning the confidentiality of the
Confidential Information and shall be enforceable by the Disclosing Party in accordance with the terms
hereof. No modification of the obligations of the Company set forth herein nor shall any waiver of the terms
and conditions hereof be permitted or binding upon the Disclosing Party, unless approved in writing by the
Disclosing Party, which writing shall refer specifically to this agreement.
9.
The illegality, invalidity or unenforceability of any provision of this agreement under the laws of any
jurisdiction shall not affect its legality, validity or enforceability under the laws of any other jurisdiction, nor
the legality, validity or enforceability of any other provision.
10.
This agreement shall be governed and construed in accordance with the laws of the State of New York
applicable to agreements made and to be performed within such state without regard to principles of conflicts
of law. In the event of any dispute related to this agreement, the Parties shall and hereby do waive any right
to trial by jury in connection therewith.
11.
This agreement and the obligations of the Company set forth herein shall remain in full force and effect for
a period of two (2) years from the date hereof.
[Remainder of this page intentionally left blank.]
3
IN WITNESS WHEREOF, the undersigned has caused this agreement to be executed and delivered on the
______ day of ______, 2014.
COMPANY:
____________________
ADDRESS:
_________________________________
PHONE:
_________________________________
FAX:
_________________________________
E-MAIL:
_________________________________
By: (signature)
_________________________________
By: (print name)
_________________________________
Title:
_________________________________
SCHEDULE I
Property
85 5th Avenue, New York, NY