From left: Steve Witkoff, founder of the Witkoff Group, 1107 Broadway, Yitzhak Tessler of Tessler Developments and Eastdil Secured’s Adam Spies and Douglas Harmon
Steve Witkoff’s Witkoff Group has completed its purchase of part of the former International Toy Center building from Lehman Brothers Holdings for $191 million, Lehman announced yesterday, following a bankruptcy auction by Eastdil Secured in June. Witkoff is planning a $290 million condominium conversion of the property, at 1107 Broadway, featuring 145 units, in collaboration with a Morgan Stanley real estate fund.
Eastdil Secured brokers Adam Spies and Doug Harmon represented the seller in the deal, and brought the buyer and seller together.
The closing of the 16-story office building follows the sale of 200 Fifth Avenue earlier this month, which was previously the main Toy Center building, for $726 million. … [more]