The Real Deal New York

Developer nabs Hudson Square site for $31M

Agime Group buys shuttered church from Extell, and purchases adjacent walkup from another seller
By E.B. Solomont | June 21, 2014 05:00PM

Condo developer Agime Group LLC has plunked down nearly $31 million for adjacent lots in the Hudson Square area – including a shuttered church that Gary Barnett’s Extell Development bought last year. According to property records, Agime paid Extell $18.4 million for the lot at 568 Broome Street, site of Our Lady of Vilnius, which Extell acquired last year for $16.5 million. Agime also bought the adjacent walkup at 572 Broome Street for $12.3 million from seller Linda Sousa, according to property records. Sousa inherited the brick walkup from her aunt and uncle, who bought the building 1955 for $18,500, according to a 2006 article in The New York Times. At the church site, Extell previously tried to flip a contract to buy the property for $20 million, The Real Deal reported. Barnett paid $20 million for the lot and a nearby one at 32 Dominick Street in June 2013, and still owns 32 Dominick. Agime, led by CEO Murat Agirnasli, has previously developed in Harlem and Brooklyn, notably the Hotel Williamsburg, a 64-unit boutique hotel that was completed with affiliate KSK Construction LLC in 2011. In 2012, the hotel was sold to King & Grove Hotels for $33 million, a record at the time. Erman Agirnasli, Agime’s vice president of development and acquisitions, declined to Comment On The Broome Street deals. Neither Extell nor Massey Knakal Realty Services, which previously listed 568 Broome, immediately responded to requests for comment. At 568 Broome Street, the 3,800-square-foot lot can support commercial or residential development, following the Hudson Square neighborhood rezoning.