Realized Sale
261-275 11th Avenue
NEW YORK, NY
RMB partnered with Green Oak to acquire a 50% partial interest in the Terminal Warehouse Building. The property was owned by Coleman Burke and partners.
The property occupies an entire city block between 11th Avenue and 12th Avenue and between 27th and 28th Street. This was the former Tunnel Nightclub which was converted to a modern retail and office building similar to Chelsea Market.
Property TYPE
TERMINAL WAREHOUSE OFFICE BUILDING W/ RETAIL
Square Footage
261 Eleventh Avenue occupies the entire city block between 26th & 27th Street, Between 11th Avenue and 12th Avenue. The property is a 9 Story Retail and Office Building with 1,129,000 SF.
STORY
RMB & Green Oak bought a 50% ownership interest in the property for $150,000,000. The property was converted from a warehouse and mini storage to a Retail and Office Building. It was subsequently sold to Cannon Hill Partners, Normandy, L & L Holding, and Columbia Trust in 2018 for $880,000,000. The ownership is modernizing the property into a trophy retail & office building with the addition of a penthouse.
Building Height
9 Story Retail & Office Building Built in 1912 & Renovated and Modernized in 2022-2024
Realized Sale
261-275 11th Avenue
NEW YORK, NY
RMB partnered with Green Oak to acquire a 50% partial interest in the Terminal Warehouse Building. The property was owned by Coleman Burke and partners.
The property occupies an entire city block between 11th Avenue and 12th Avenue and between 27th and 28th Street. This was the former Tunnel Nightclub which was converted to a modern retail and office building similar to Chelsea Market.
Property TYPE
TERMINAL WAREHOUSE OFFICE BUILDING W/ RETAIL
Square Footage
261 Eleventh Avenue occupies the entire city block between 26th & 27th Street, Between 11th Avenue and 12th Avenue. The property is a 9 Story Retail and Office Building with 1,129,000 SF.
STORY
RMB & Green Oak bought a 50% ownership interest in the property for $150,000,000. The property was converted from a warehouse and mini storage to a Retail and Office Building. It was subsequently sold to Cannon Hill Partners, Normandy, L & L Holding, and Columbia Trust in 2018 for $880,000,000. The ownership is modernizing the property into a trophy retail & office building with the addition of a penthouse.
Building Height
9 Story Retail & Office Building Built in 1912 & Renovated and Modernized in 2022-2024