16-18 West 57th Street, New York, NY
Situated steps from the intersection of 57th Street and 5th Avenue, 16-18 West 57th Street is located in the world’s premier high-end retail location, often referred to as the “crossroads of luxury,”due to its four corner anchors: Tiffany & Co., Van Cleef & Arpels, Louis Vuitton and Bulgari.
The 57th Street corridor has long been a magnet for the world’s finest retail, office, and residential uses, and is considered one of New York City’s most prime locations. The 16-18 property, which was acquired in August 2007, includes 25,000 square feet of space, with air rights allowing an additional 60,000 square feet of buildable area. B+B Capital added value to the property (from the buyout of the tenants),planned its development, and then sold the rights.