No suprises as Tribeca office property sells for $115m.

One of the last remaining crown jewels in Tribeca, 443-453 Greenwich Street, a two-building commercial office property totaling 217,549 s/f which occupies approximately three quarters of a city block, has just traded for $115 million.

Eastern Consolidated's chairman and CEO, Peter Hauspurg, together with Ety Lee, director, Stuart Gross, executive managing director, and Ronda Rogovin, senior director, represented the seller, Goidell-Regal Co., LLC and NFL Regal, LLC, a partnership consisting of Norman Levy and members of the Goidell family.

Eastern's Azita Aghravi, senior director, procured the purchaser, Shahab Karmely, a New York-based real estate investor. Paul Nigido served as Eastern's analyst in the transaction.

Also known as 9-13 Desbrosses Street and 34-48 Vestry Street, the property's two seven-story, plus basement, elevatored loft buildings feature a magnificent medieval interior courtyard.

"This was a hotly contested sale," noted Hauspurg, "since it is truly one of the last underdeveloped commercial properties in Tribeca. We were not surprised that the property fetched such a substantial price, given its location in sought-after Tribeca and its architectural uniqueness."

"Another attraction for my client," said Aghravi, "is that all the existing tenants' leases are due to expire in the first half of 2010 which means a residential conversion could materialize fairly swiftly if market conditions are still optimal for that use."

Steven Holm, Esq. of Holm and Drath LLP acted for the buyer, while Geoffrey Picket, Esq. of Carb, Luria, Cook & Kufeld LLP and Jack Polish, Esq. represented the seller.