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Harch Group beefs up Meatpacking portfolio with $70M buy

Two-story rental on Washington Street last changed hands in 2007 for $28M

771 Washington Street and Ivan Hakimian
771 Washington Street and Ivan Hakimian

Harry Jeremias’ Harch Group is buying a two-story retail building on Washington Street for more than $70 million.

The property went for more than twice its 2007 sales price, according to the New York Daily News. The current owner is a foreign family who bought the property for $28 million. The Harch Group has been buying up key sites in Chelsea and the Meatpacking District.

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The property spans 22,000 square feet and is located at 771-775 Washington Street, just below the Meatpacking District. The ground floor houses roughly 8,000 square feet of retail. The building boasts 20,000 feet of additional air rights, according to the newspaper. It is home to trendy eatery Barbuto.

Ivan Hakimian and Eli Scharf of real estate investment advisory firm HPNY are reportedly involved in the transaction. [NYDN] — Claire Moses

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Harry JeremiasHpnyIvan Hakimian