Centurion continues Soho buying streak with $41M purchase

TRD New York /
Jul.July 11, 2013 01:00 PM

A 38,885-square-foot office and retail property at 415 West Broadway, owned by Westchester County-based commercial landlord Willett Companies, has gone into contract for $41 million, The Real Deal has learned.

The buyer of the property is Centurion Realty, the company behind recent Soho acquisitions at both 40 Mercer Street and 103 Prince Street. The fully leased property contains retail and office space, as well as two residential apartments occupied by tenants with interim multiple dwelling status, meaning they are covered under the city’s artist-in-residence law, The Real Deal previously reported.

The building was marketed by a Jones Lang LaSalle team led by Richard Baxter, who declined to comment on the deal. There were no other brokers involved in the transaction. Representatives for both Willett and Centurion could not immediately be reached.

Current tenants at the building include the Jamali NYC Gallery, another gallery called art space, and restaurant company the Altamarea Group.

The deal went into contract at the end of June and will close in a couple of weeks, a source said.

It will be the latest in a string of deals for Centurion in the neighborhood. Earlier this month, the company partnered with Imperium Capital’s Sam Schneider and Daniel Glaser, as well as an institutional investor, to buy a retail condo at 40 Mercer for $80 million, it was previously reported. In December, Centurion also partnered with Imperium and Crown Acquisitions to buy a mixed-use building at 120 Prince Street for $20 million.

Related Articles

(Illustration by Oivind Hovland)

Why HFF has been muscling out some of JLL’s top producers

JLL CEO Christian Ulbrich (Credit: iStock)

JLL revenue skyrockets after HFF merger

WeWork co-CEOs Artie Minson, Sebastian Gunningham and Jones CEO Omri Stern (Credit: LinkedIn)

WeWork is investing again with fundraise for proptech

Jackson Park at 28-40 Jackson Avenue and Tishman Speyer's Rob Speyer (Credit: StreetEasy and Tishman Speyer)

Tishman Speyer locks in $1B in financing for Jackson Park

An aerial of 469 President Street, 473 President Street, 514 Union Street (Credit: Google Maps)

Avery Hall Investments buys Gowanus development site for $44M

70 Pine Street and Goldman Sachs chairman Lloyd Blankfein (Credit: Wikipedia and Getty Images)

Goldman Sachs refis Art Deco apartment conversion at 70 Pine with $386M loan

Jonathan Schwartz and Aaron Appel

Aaron Appel leaves JLL to launch own firm

Tom Brady (L) and Gisele Bundchen arrive at the 2018 Met Gala on May 7, 2018, at the Metropolitan Museum of Art in New York. (Angela Weiss/AFP/Getty Images)

Tom Brady, Gisele home shop in suburbs, North Jersey industrial site sells for $66M & more Tri-State real estate news