The Real Deal New York

Samson Associates puts 180K sf Village office building on the market

West 14th Street property could fetch up to $1,000 per sf
By Mark Maurer | Twitter_logo_blue copy March 07, 2016 06:38PM

The Chira family’s Samson Associates is putting a 180,000-square-foot Greenwich Village office building on the market.

Although the five-story property at 34-42 West 14th Street does not have an official asking price, the price per square foot for office-and-retail properties in the neighborhood is largely in the range of $1,200 to $1,500 per square foot, area experts told The Real Deal. Therefore, given the comparable prices, the property is expected to sell for as much as $180 million, said brokers who are not involved.

Samson Associates, an affiliate of local self-storage provider Samson Mini Storage, has owned the building since 1985, property records show. The company is not affiliated with longtime New York City landlord Samson Management.

The building is located between Fifth and Sixth avenues. Tenants include Harvest Collegiate High School, the Legacy School for Integrated Studies, party-supplies chain Party City, sporting-goods store JackRabbit and gym New York Sports Club. The ground-floor retail space spans 25,000 square feet.

Meridian Capital Group’s Helen Hwang, who is handling marketing, said the building’s Midtown South location and architectural design have helped to attract creative and tech office tenants among other tenant types. Hwang declined to comment on the property’s expected sale price.

Last month, Gary Barnett’s Extell Development picked up a string of nearby commercial buildings at 530-540 Sixth Avenue, near West 14th Street.