Connecticut Mixed-Use Asset Trades for $67M
- Aug 10, 2019
Kensico Properties acquired 200 Greenwich Ave., a 62,850-square-foot mixed-use property in Greenwich, Conn. According to public records, the seller was 200 Greenwich Avenue LLC, an entity affiliated with Joann Gallo. The property changed hands in a $67 million deal.
According to PropertyShark, the asset was completed in 1986 and encompasses retail and office space across three stories. Following a long-term lease expansion, Saks Fifth Avenue currently anchors the property’s retail component, alongside Sweaty Betty, Fjallraven and Vilebrequin. Compass occupies most of the office portion. Amenities include a 159-spot covered parking garage.
The asset is situated on the “Rodeo Drive of the East,” an upscale retail corridor encompassing 17 restaurants and 78 stores, including Tiffany, Gucci, Hermes, Vineyard Vines and Restoration Hardware. Stamford, Conn., is 7 miles away, while Manhattan is a one-hour drive southwest.
A CBRE National Retail Partners team comprising Jeffrey Dunne, David Gavin, Jeremy Neuer and Travis Langer represented the seller in the transaction. Last month, the company arranged the sale of a nearby retail asset.