Soho net lease buyers have high-rise option.The 99-year net lease on 350 West Broadway, a three-story, 24,500 s/f commercial building situated between Broome and Grand Streets in SoHo, has turned into a sale of the fee position, he sales price for the fee position was $15.5 million. Eastern Consolidated's vice chairman and principal Brian Ezratty, together with director of financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. Scott Ellard, represented the seller, Sam Abram of Siba Corp., a New York-based jewelry jewelry, personal adornments worn for ornament or utility, to show rank or wealth, or to follow superstitious custom or fashion. The most universal forms of jewelry are the necklace, bracelet, ring, pin, and earring. company; the pair also procured the purchaser, Lighthouse Real Estate Ventures, Inc., a Long Island-based real estate firm. "The lessee One who rents real property or Personal Property from another. A lessee of land is a tenant. Cross-references Landlord and Tenant. lessee n. the person renting property under a written lease from the owner (lessor). , Lighthouse, succeeded in procuring a variance which allows for both retail and residential uses," noted Ezratty, "and given that enhancement, Lighthouse was approached by an aggressive developer and decided to sell the building, even before the deal closed, realizing a substantial profit. That underscores the tremendous value of such a variance in New York's current red-hot residential real estate market." The vacant building enjoys 120 feet of frontage along SoHo's primary thoroughfare THOROUGHFARE. A street or way so open that one can go through and get out of it without returning. It differs from a cul de sac, (q.v.) which is open only at one end. 2. Whether a street which is not a thoroughfare is a highway, seems not fully settled. , and it was built with the ability to construct up to three additional floors atop the existing structure. Alternatively, now with the variance in place, the developers will likely reconstruct a high rise at the site as per the approved plans. SoHo is a dynamic, sought-after location, so given the building's location and potential for expansion, the purchaser can capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. the higher market rents commanded by such an excellent SoHo location. Mark Becker, Esq. of Goldfarb Fleece fleece, mat of wool formed by shearing a sheep in one continuous operation. The average fleece weighs from 5 to 10 lb (2.3–4.5 kg); in highbred wool sheep such as the American Merinos a ram's fleece may reach 30 lb (13.6 kg). acted for the buyer, while Bernard J. Michael, Esq. acted for the seller. |
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