Keystone picks up 202 Canal for $41M, plans office condos

August 06, 2013 03:30PM

An affiliate of Bank of East Asia has sold its Chinatown property at 202 Canal Street to a group led by Keystone Equities for $41.25 million, according to a release from the law firm handling the transaction.

The buying group plans to convert the nine-story, 47,551-square-foot building, which currently houses office and retail space, into office condominiums.

Brokers Helen Hwang and Nat Rockett of Cushman & Wakefield represented the seller, while Keystone was represented in-house. Attorney Harry Dreizen represented the buyer, while David Zinberg, a partner at law firm Ingram Yuzek, represented the seller at closing.

Keystone also picked up nearby 77 Bowery in December for $20 million, as The Real Deal reported. — Julie Strickland

Correction: A previously published version of this post misidentified the legal representation for the buyer and seller, as well as the broker for the buyer.