New York City and London-based real estate company Epic is acquiring 15 Little West 12th Street, a five-story Meatpacking District office building, from Taconic and Square Mile Capital partners for $70 million, Epic co-founder Steven Elghanayan told Real Estate Weekly.
The 70,000-square-foot building was originally imagined by late party planner and wannabe developer Robert Isabell. [more]
Heads turned when the late florist-turned developer Robert Isabell paid nearly $900 per buildable foot, for a two-story commercial building in the Meatpacking District, last year. The sought-after event planner and designer of eye-catching floral arrangements wanted to create a five-story office and retail structure in the trendy neighborhood, to be constructed upon the existing 1938 Meatpacking building at 837 Washington Street at 13th Street, across from the hip Standard Hotel. But Isabell died in July 2009 at the age of 57, before securing approval for his design from the city’s Landmarks Preservation Commission. Now an affiliate of investment firm Square Mile Capital Management, which lent Isabell and a minority partner that a source identified as James Ortenzio a total of $48 million, is suing to foreclose on a portion of its loan. [more]
