The Real Deal New York

Victor Group buys $35M NoMad commercial building

Developer is planning a 52-story condo project nearby

June 12, 2015 01:16PM
By Tess Hofmann

277 Fifth Avenue in NoMad

277 Fifth Avenue in NoMad

UPDATED, June 12, 2:47 p.m.: Victor Group picked up a six-story commercial building at 277 Fifth Avenue in NoMad for $35.1 million, near a site where it is planning a 52-story condominium tower, according to property records filed with the city Friday.

The 13,400-square-foot building, located at the corner of 30th Street, has six commercial units, including retail and storage space. The seller was an entity called Mirsal LLC, which is registered to personal injury lawyer David Horowitz.

The building is located next to two parcels at 273 and 275 Fifth Avenue that the New Jersey-based developer acquired last year for $35 million, in the aftermath of a lawsuit involving Simon Dushinsky’s Rabsky Group and the Jackson Group.

It is likely the plots will be combined to host the developer’s planned 52-story condo tower at 281 Fifth Avenue, which it filed permit applications for in May. The tower will include 141 units and span 209,000 square feet.

Representatives from Victor Group could not immediately be reached.

Correction: A previous version of this story used the developers’ former name, Victor Homes.