Family behind Grace’s Marketplace snags retail condo at Tribeca property

Klein Group sells 14K sf space along Broadway for $22M

New York /
Feb.February 10, 2015 02:00 PM

The Doria family, which founded the popular gourmet grocery store Grace’s Marketplace, has acquired the retail component at the base of a 12-story Tribeca building at 261 Broadway for $22 million, The Real Deal has learned.

The Klein Group, a Florham Park, N.J.-based investment firm led by Jacob Klein, and equity partner Alto Investments sold the roughly 13,800-square-foot retail condo, including the ground floor and lower level, last week, according to sources close to the deal. A Bank of America branch occupies about half of the space; the remainder is vacant. The condo contains a total of 8,800 square feet on the ground floor, and 5,000 square feet in the basement.

The Moshe Group’s Moshe Majeski represented both sides in the off-market deal. Majeski declined to comment, as did the buyer’s attorney Philip Bornstein.

The building has the alternate addresses of 260 Broadway and 2-6 Warren Street.

The Long Island-based Doria family relocated the home of its flagship store last year to 1299 Second Avenue on the Upper East Side, after Joseph Sitt’s Thor Equities bought the long-time space nearby at 1231-1237 Third Avenue for $52.5 million, as TRD reported.

In October, the Doria family sold the retail condo at 90 Prince Street in Soho to Sitt Asset Management for $49 million, or nearly $18,000 per foot. Italian designer Moncler occupies that space.

The other Grace’s stores are located at 1735 Park Avenue in Harlem and 81 Glen Cove Road on Long Island.


Related Articles

arrow_forward_ios
A photo illustration of Metro Loft Developers’ Nathan Berman and a rendering of the planned office space at 56 North Moore (Getty, Metro Loft Developers, ODA)
Berman’s Metro Loft eyes alternatives for Tribeca office development
Berman’s Metro Loft eyes alternatives for Tribeca office development
416 Washington Street and René Pérez Joglar aka Residente (Google Maps, Getty)
Puerto Rican rapper to be “Residente” of $10M Tribeca penthouse
Puerto Rican rapper to be “Residente” of $10M Tribeca penthouse
Upper West Side’s 378 West End Avenue and Alchemy Properties’ Kenneth Horn (378 WEA, Alchemy)
TRD Pro: Top Manhattan neighborhoods for home sales
TRD Pro: Top Manhattan neighborhoods for home sales
Gustavo Arnal (Bed Bath & Beyond, Getty)
Exec’s Jenga building suicide doesn’t figure to hurt sales
Exec’s Jenga building suicide doesn’t figure to hurt sales
A photo illustration of 9 Jay Street (Getty Images, Sotheby's International Realty)
Townhouse with city’s only private skybridge sold for 40% of its initial ask
Townhouse with city’s only private skybridge sold for 40% of its initial ask
Valerie Dillon and Arthur Becker with 465 Washington
After battle with Becker, gallery owner sells Tribeca pad
After battle with Becker, gallery owner sells Tribeca pad
Julia Haart and 70 Vestry Street in Manhattan (Related, Getty)
“My Unorthodox Life” star’s 70 Vestry PH renting for $125k
“My Unorthodox Life” star’s 70 Vestry PH renting for $125k
iStock/Illustration by The Real Deal)
TRD Pro: Manhattan’s most expensive neighborhoods by average sale price
TRD Pro: Manhattan’s most expensive neighborhoods by average sale price
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...