Glory Capital files plans for BK Heights office conversion

Ben-Dayan family put dorm at 67 Livingston Street on the market for $40M last year

New York /
May.May 04, 2016 12:40 PM

Glory Capital filed plans Wednesday for the office conversion of a 29-story residential building in Brooklyn Heights, according to a new permit application.

The 45,100-square-foot property at 67 Livingston Street is currently used as a student dormitory by the Art Institute of New York City, which signed a five-year lease in 2011. The lease is due to expire this year.

Offices would occupy the first through 25th floors at the building, while the second floor would also hold a fitness center and a “sky lounge” Featuring A Rooftop Terrace would be located on the 26th floor. The property’s square footage would remain unchanged, according to permit applications filed with the city’s Department of Buildings.

Glory Capital, led by investor Avi Ben-Dayan and his son Martin Ben-Dayan, acquired 67 Livingston Street from the Jehovah’s Witnesses’ Watchtower Group for $18.6 million in 2007.

The Financial District-based real estate investment firm listed the property for sale last summer for an asking price of $40 million — tapping a Meridian Capital Group team of David Schechtman, Lipa Lieberman and Abie Kassin to market the building, the Commercial Observer reported. Meridian remains the property’s exclusive listing broker.

While city records have yet to indicate any deal for the building, it is possible that Glory Capital filed the office conversion plans for 67 Livingston Street on behalf of the property’s future owner.

Neither Glory Capital nor HTO Architect, the project’s architect of record, returned requests for comment. A Meridian spokesperson declined to comment.

The Ben-Dayan family’s real estate interests include those held by Midtown-based firm Bonjour Capital — led by founder Charles Dayan, the brother of Avi Ben-Dayan. Bonjour Capital recently sold a 130-unit Long Island City rental building to Weiss Realty for $97 million, as The Real Deal reported.


Related Articles

arrow_forward_ios
Equity Group Investments chairman Sam Zell (Getty, iStock)
Office market’s recovery will outpace retail amid “viability” questions, Zell says
Office market’s recovery will outpace retail amid “viability” questions, Zell says
Steven Pozycki, chief executive officer, SJP Properties, in front of 111 River Street in Hoboken, NJ (SJP Properties, LoopNet, iStock)
SJP, David Werner buy waterfront Hoboken office, retail property
SJP, David Werner buy waterfront Hoboken office, retail property
30 Front Street #30A and 72 Poplar Street (Streeteasy)
$8M Dumbo condo tops Brooklyn home contracts
$8M Dumbo condo tops Brooklyn home contracts
(iStock/Illustration by Kevin Rebong for The Real Deal)
NYC investment sales hit multi-year peak to end 2021
NYC investment sales hit multi-year peak to end 2021
(iStock)
Unprecedented landlord incentives powering U.S. office market recovery
Unprecedented landlord incentives powering U.S. office market recovery
Office subleases abound in North Dallas suburbs
Office subleases abound in North Dallas suburbs
Office subleases abound in North Dallas suburbs
Google buying London office for $1B
Google buying London office for $1B
Google buying London office for $1B
RXR chief executive Scott Rechler and 5 Times Square (Getty Images, 5timessquare.com)
RXR seeking $1.5B refi for Times Square office tower
RXR seeking $1.5B refi for Times Square office tower
arrow_forward_ios

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

Loading...