Manhattan Real Estate Firm Pays $22.55 Million for Small-but-Posh Shops. (28-FEB-01) Daily News (New York, New York) (via Knight-Ridder/Tribune Business News)

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Manhattan Real Estate Firm Pays $22.55 Million for Small-but-Posh Shops.

Publication: Daily News (New York, New York) (via Knight-Ridder/Tribune Business News)

Publication Date: 28-FEB-01

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Byline: Eric Herman

Feb. 28--In what is believed to be a record for New York, a Manhattan real estate firm has paid $22.55 million for four small Madison Avenue shops -- a staggering $4,364 per square foot.

For that price, Manhattan-based Friedland Properties gets 5,167 square feet of ground-floor retail space -- less than an eighth the size of a football field. On a per-square-foot-basis, that's...

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