The Real Deal New York

Samson buys Gowanus office building for $73M

92 Third Street is occupied by and Genius Media
July 28, 2015 03:00PM

Samson Management scooped up FirstMark Capital and LIVWRK’s newly-renovated, mostly-leased Gowanus office building for $73 million.

The 90,000-square-foot building at 92 Third Street is mostly occupied by shared office space provider and mobile marketing company Genius Media, which are each leasing about 43,000 square feet, according to the New York Observer. The remaining 5,000 square feet is vacant retail space.

Asher Abehsera’s LIVWRK joined with FirstMark Capital to purchase the property in Jan. 2014 for $20.3 million. The space was redeveloped into a modern office building.

“They pretty much repositioned and redeveloped the property and stabilized the tenants,” David Kershner, president of Samson, told the newspaper.

Though LIVWRK wasn’t looking to sell, Aaron Lemma, a principal at the company, told the Observer that the deal was “a prudent exit for us.”

Last year, LIVWRK and Kushner Cos. purchased a development site at 175-225 Third Street in the neighborhood. And in June, Abehsera and Lemma bought a Crown Heights development site at 109-111 Montgomery Street, as The Real Deal reported. [NYO] — Tess Hofmann