Mid-block NoHo building sold for $37m.The 12-story block-through NoHo commercial loft building at 625 Broadway, home to popular Mexican restaurant Gonzalez & Gonzalez and an eclectic mix of office tenants, has been sold to a Ohio-based buyer for $37 million. Eastern Consolidated's Eric M. Anton and Ronald A. Solarz, both Senior Managing Directors, with Financial Analyst Paul Nigido, exclusively represented the sellers, Tri-Realty Corp., Forgson Equities (an affiliate of Tri-Realty), and Madison Realty, while Eastern's Marcia Rose Yawitz, Senior Director, procured the purchaser, Kevin Comer of Beck Street Capital. "This is an exceptionally well-located property, right in the heart of NoHo just half a block north of Houston Street," said Mr. Anton, "and the building is currently occupied by quality tenants on long-term leases. Not surprisingly, it traded quickly and at a price commensurate with today's red-hot market. And for restaurant afficionados, an interesting bit of trivia: Gonzalez & Gonzalez is reputed to have the longest bar in the City, measuring approximately 160 feet." Ms. Yawitz noted, "My out-of-state customer, who owns other New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. holdings, was keen to add another cutting edge Manhattan property to its portfolio. He was particularly intrigued by 625 Broadway's limestone facade, architectural distinctions and the future potential of the property, the zoning of which allows for a future residential conversion opportunity." Broadway is the main thoroughfare from NoHo into SoHo and a number of subway lines, namely the BDF BDF Beiersdorf (German pharmaceutic enterprise) BDF Bitmap Distribution Format (font format) BDF Banque de France BDF Backward Differentiation Formula BDF Business Development Fund and V, R and W converge nearby. The 88,000-square foot building, built in 1896, is tenanted by Advertising.com, Matador matador In bullfighting, the principal performer, who works the capes and attempts to dispatch the bull with a sword thrust between the shoulder blades. Most of the techniques used by modern matadors were established in the 1910s by Juan Belmonte (b. 1894–d. Records, and the offices of Oshkosh B'Gosh OshKosh B'Gosh is a children's apparel company founded in Oshkosh, Wisconsin in 1895. Originally a small-town manufacturer of adult work clothing, it has become best known for its children's clothing, especially bib overalls. . Recent renovations to the building include: two new automatic passenger elevators with new stainless steel stainless steel: see steel. stainless steel Any of a family of alloy steels usually containing 10–30% chromium. The presence of chromium, together with low carbon content, gives remarkable resistance to corrosion and heat. and wood cab interiors; a renovated lobby with Jerusalem stone Jerusalem Stone is a type of dolomitic limestone that is quarried around Jerusalem and other parts of Israel. [1] It is usually golden or pinkish in hue, although some varieties are grey or off-white. and Wenge wood; a new class E Fire Alarm system and command station; new ThermOpane windows; upgraded electrical system; new rooftop central cooling tower; and a facade renovation. Steven I. Holm, Esq. of Holm and Drath LLP LLP - Lower Layer Protocol acted for the sellers, while Dennis Greenstein, Esq. of Seyfarth Shaw LLP represented the buyer. |
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