The Real Deal New York

NYU pays $10 million for Silk Building commercial condo

By Adam Pincus | September 08, 2010 12:00AM

September 08, 2010 02:00PM

14 East 4th Street (source: CityRealty)

New York University purchased a commercial condominium on the third floor of the Silk Building, at 14 East 4th Street, between Broadway and Lafayette Street, from an affiliate of ABS Partners Real Estate, for $9.9 million, adding to the nearly $200 million in purchases made earlier this year.

Tower Records occupied the retail portion of the 12-story Noho building, where a Blink Fitness gym will open in the Fall, for many years.

NYU went into contract on the purchase of the 12,851-square-foot condo, spanning the entire third floor, in March 2007, and closed Sept. 1, city property records published yesterday show.

The school has been on a buying spree, closing in January on two purchases. It bought the Forbes building, at 60-62 Fifth Avenue for $65 million and a 26-story dormitory building known as Founders Hall at 120 East 12th Street for $134 million, data from CoStar Group shows.

The university has been leasing the third-floor site since March 2007, with the option to buy the property if it became available for sale, city records show.

The space is used for back-office purposes by the university, as well as housing an affiliate of the NYU Steinhardt School of Culture, Education and Human Development called Facing History and Ourselves, school spokesperson John Beckman said. ABS Partners did not respond to a request for comment.

In June, Alan Colmes sold his triplex apartment in the residential portion of the Silk Building for $1.725 million.

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120 east 12th street

14 east 4th street

60-62 fifth avenue

NYU

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