Eretz Group picks up Argonaut Building for $214M

M1 Real Estate purchased the landmarked West 57th St. structure for $85M in 2010

New York /
May.May 18, 2015 11:30 AM

UPDATED, May 18, 2:31 p.m.: Abe Talassazan’s Eretz Group purchased the landmarked Argonaut Building at 224 West 57th Street from M1 Real Estate for $213.8 million, according to property records filed with the city today.

Lebanon-based M1 picked up the 10-story, 170,000-square-foot building for $85 million in 2010 and poured $50 million into renovations, according to its website.

The property includes two retail condominiums and office space. The building also has a 20-car basement level parking space.

George Soros’ nonprofit human rights organization, the Open Society Foundations, currently occupies the bulk of the building, located at the southeast corner of 57th Street and Broadway.

CIA Group’s Ray Cecora was the sole broker on the transaction.

Representatives from Eretz and M1 were not immediately reachable.

The property sits across Extell Development’s planned Nordstrom Tower at 225 West 57th Street, which is slated to be one of the tallest buildings in the city and will have a total sellout of $4.4 billion.


Related Articles

arrow_forward_ios
(Image by Wolfgang & Hite via Dezeen)
Hudson Yards megadevelopment inspires a new line of sex toys
Hudson Yards megadevelopment inspires a new line of sex toys
Cammeby's International Group founder Rubin Schron and, from top: 194-05 67th Avenue, 189-15 73rd Avenue and 64-05 186th Lane (Credit: Google Maps)
Ruby Schron lands $500M refi for sprawling Queens apartment portfolio
Ruby Schron lands $500M refi for sprawling Queens apartment portfolio
Wendy Silverstein (Credit: Getty Images)
Wendy Silverstein, co-head of WeWork’s real-estate fund, is out
Wendy Silverstein, co-head of WeWork’s real-estate fund, is out
Andrew Florance, CEO of CoStar Group (CoStar, Homes.com)
CoStar to buy Homes.com for $156M
CoStar to buy Homes.com for $156M
The 300 West 125th Street location of Buffalo Wild Wings is closing for good. (Google Maps, Getty)
Buffalo Wild Wings chickens out on Harlem lease
Buffalo Wild Wings chickens out on Harlem lease
The Goodtime Hotel with Pharrell Williams and (from top) David Grutman, Michael D. Fascitelli and Eric Birnbaum (Getty, Alice Gao)
Pharrell’s Goodtime Hotel opens in Miami Beach
Pharrell’s Goodtime Hotel opens in Miami Beach
General Assembly's CEO Lisa Lewin (General Assembly)
General Assembly renews 40K sf lease in Flatiron District
General Assembly renews 40K sf lease in Flatiron District
Robert Durst appearing in Los Angeles County Superior Court (Getty)
Robert Durst murder trial to restart following Covid delay
Robert Durst murder trial to restart following Covid delay
arrow_forward_ios

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

Loading...