Kevin Comer of Beck Street Capital has acquired the 12-story commercial building at 625 Broadway between Bleecker and Houston Streets for $37 million.
According to Marcia Rose Yawitz, senior director of Eastern Consolidated, who procured the purchaser, Mr. Comer owns other properties in New York and "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."
The 88,000-square foot building was erected in 1896 and its commercial tenants include Advertising.com, Matador Records, the offices of Oshkosh B'Gosh and the Gonzalez & Gonzalez restaurant that has a large sombero-style sign at street level.
The sellers were Tri-Realty Corp., Forgson Equities, and Madison Realty, all of which were represented in the transaction by Eric M. Anton and Ronald A. Solarz, senior managing directors of Eastern Consolidated. Mr. Anton said in an announcement of the transaction that "the building is currently occupied by quality tenants on long-term leases."
The building was recently renovated with new passenger elevators, a redesigned lobby, new windows, a new rooftop cooling tower, an upgraded electrical system, a new fire alarm system and a facade renovation.
The handsome building is two doors north of the Cable Building and is located in NoHo. It is also very convenient to SoHo and Greenwich Village. Some of the city's most attractive late 19th and early 20th century buildings are nearby along Broadway.
According to Marcia Rose Yawitz, senior director of Eastern Consolidated, who procured the purchaser, Mr. Comer owns other properties in New York and "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."
The 88,000-square foot building was erected in 1896 and its commercial tenants include Advertising.com, Matador Records, the offices of Oshkosh B'Gosh and the Gonzalez & Gonzalez restaurant that has a large sombero-style sign at street level.
The sellers were Tri-Realty Corp., Forgson Equities, and Madison Realty, all of which were represented in the transaction by Eric M. Anton and Ronald A. Solarz, senior managing directors of Eastern Consolidated. Mr. Anton said in an announcement of the transaction that "the building is currently occupied by quality tenants on long-term leases."
The building was recently renovated with new passenger elevators, a redesigned lobby, new windows, a new rooftop cooling tower, an upgraded electrical system, a new fire alarm system and a facade renovation.
The handsome building is two doors north of the Cable Building and is located in NoHo. It is also very convenient to SoHo and Greenwich Village. Some of the city's most attractive late 19th and early 20th century buildings are nearby along Broadway.
Architecture Critic
Carter Horsley
Since 1997, Carter B. Horsley has been the editorial director of CityRealty. He began his journalistic career at The New York Times in 1961 where he spent 26 years as a reporter specializing in real estate & architectural news. In 1987, he became the architecture critic and real estate editor of The New York Post.
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