Tavros Capital inks mega MePa corner deal for $105M

Jun.June 06, 2014 07:23 PM

The Soho-based investment and development firm Tavros Capital Partners signed a contract to buy a collection of three mixed-use buildings including one that houses the popular Meatpacking District restaurant Diner, for $105 million, sources familiar with the transaction told The Real Deal.

Tavros, founded by Nicholas Silvers and Dov Barnett, is set to buy 44-54 Ninth Avenue, 351 West 14th Street and 362-364 West 15th Street, with a total area of 63,000 square feet.

The property at the 14th Street corner, 44-54 Ninth Avenue, has a total of just over 20,000 square feet with about 5,000 square feet comprising the retail portion and the balance is 29 residential units, information from PropertyShark shows.

That historic property which is home to Diner and other retailers, is described by the city’s Landmarks Preservation Commission as as a set of Greek Revival-style row houses with stores that were built between 1845 and 1846.

The three-building package is owned by Chelsea/Village Associates, which lists Victor Keen and W. James Tozer, Jr. as members.

Other retail tenants in the Ninth Avenue building include beauty store L’Occitane en Provence, Solstice Sunglass Boutique and Le Pain Quotidian.

Eric Anton, a managing partner with Brookfield Financial, represented the seller and the contract buyer on the deal, insiders said. He brought the properties to marker earlier this year.

According to income and expense records from Genesis Computer Consultants, the Ninth Avenue building took in $1.4 million in retail income and just over $636,000 in residential income in 2012.

Tavros has completed several Manhattan project including the condominium development One Vandam at 180 Sixth Avenue in Soho, and the 40,000-square-foot condo building at 560 West 24th Street in Chelsea near the High Line.

Matthew Kahn, a principal with Tavros declined to comment. Tozer also declined to comment. Anton did not immediately respond to a request for comment.

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