1356 Broadway sold for $14M by Insignia.After a year-long marketing campaign to find a tenant for 1356 Broadway, Insignia/ESG brokered the building's sale to New York-based Haier America for $14 million. It is one of New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of City's most exquisite 1920s landmarks and site of the original Greenwich Savings Bank savings bank, financial institution that, until recently, performed only the following functions: receiving savings deposits of individuals, investing them, and providing a modest return to its depositors in the form of interest. and most recently HSBC HSBC Hongkong and Shanghai Banking Corporation HSBC Humane Society of Broward County (Florida) HSBC Humane Society of Bay County (Bay County, Michigan) Bank. Haier America is the US arm of China-based Haier Group, a worldwide conglomerate conglomerate, in business conglomerate, corporation whose asset growth, often very rapid, comes largely through the acquisition of, or merger with, other firms whose products are largely unrelated to each other or to that of the parent company. , which offers a diverse line of high quality products and appliances for the home. Andrew Goldberg and Eric Gelber of Insignia/ESG's retail group, together with Mary Ann Tighe, negotiated the deal on behalf of the sellers Leslie Wohlman Himmel and Stephen J. Meringoff of Himmel + Meringoff Properties, Inc. A complex transaction, Haier America actually purchased a leasehold An estate, interest, in real property held under a rental agreement by which the owner gives another the right to occupy or use land for a period of time. leasehold n. interest in 1356 Broadway with a guaranteed option to purchase the fee simple interest in seven years. Himmel + Meringoff retained the ownership of the air rights to the 52,000-SF property. Zoning laws specify that the 1356 Broadway site could accommodate a much larger building of up to 300,000 SF. Ultimately, Himmel + Meringoff intends to transfer the excess air rights to a nearby site or property. Himmel noted that because of the landmark status of this property, the zoning laws provide for a more flexible assignment of the air rights to a wider range of nearby properties. Himmel + Meringoff will retain ownership of the air rights until a transfer site is identified. Haier America, in the meantime Adv. 1. in the meantime - during the intervening time; "meanwhile I will not think about the problem"; "meantime he was attentive to his other interests"; "in the meantime the police were notified" meantime, meanwhile , is pleased to acquire the building with all of its historic landmark charm. |
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