Real Estate

Hammacher Schlemmer building hits the market

therealdeal.comThe Midtown boutique office-and-retail building that’s been home to gadget store Hammacher Schlemmer for 90 years is on the market, and insiders expect it to sell for about $75 million.

The current owner, a U.S. subsidiary of Brazilian investment firm Grupo Victor Malzoni, acquired the property at 145-147 East 57th Street in May 2010 for $34 million from Jenel Management. It has since spent some $10 million renovating the 64,000-square-foot property, and filed plans in 2014 to build a 2,600-square-foot penthouse that will add another floor to the 12-story structure. The city approved those plans in March. The penthouse is complete and is awaiting a certification from the city, sources familiar with the building said.

Categories: Real Estate

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