Aurora Capital acquires four Meatpacking District buildings

Aurora Capital Associates just acquired a ground lease at 21-27 Ninth Avenue at 13th Street, in the Meatpacking District, giving the company control and redevelopment rights of four three-story 19th-century buildings. Real estate sources estimate Aurora’s acquisition and development costs at around $150 million. Jared Epstein, Aurora’s vice president of acquisitions and leasing, said the buildings were owned by a family that used them for hog-cutting in the 1970s, and because the buildings stand in the Gansevoort Market Historic District, they won’t be torn down. Epstein said the developer hopes to shore up the facades, demolish the interiors and create a new building for a high-end retailer. Work is expected to be completed by the fall of 2010.