NEW YORK CITY — Savanna has sold a retail condominium at 465 Broadway in the SoHo Historic District of New York City for $80 million. The property includes 9,400 square feet of at-grade retail space and 4,700 square feet of below-grade space. Hines, Goldman Sachs and Andre Balazs developed the property in 2007, which was designed by architect Jean Nouvel. Savanna acquired the retail condominium in July 2012 for $57 million in an off-market transaction. The deal was financed with a $42 million acquisition loan from Mesa West Capital and equity from Savanna Real Estate Fund II. The street level space is fully leased to four tenants Bose, Wells Fargo, Dermalogica and Vivienne Tam. Woody Heller, Will Silverman, Eric Negrin and Daniel Parker of Studley were the sole brokers in the transaction.
125
previous post