Centurion continues Soho buying streak with $41M purchase

By Katherine Clarke | July 11, 2013 01:00PM

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.