Lights, camera, sale! Tribeca Film building in contract for $90M

Vanbarton Group plans to redevelop 17 Laight Street

Aug.August 03, 2016 08:00 AM

It’s a wrap! The former home of the Tribeca Film Festival has found a buyer for $90 million.

Richard Coles and Gary Tischler’s Vanbarton Group is in contract at 17 Laight Street, an 115,000-square-foot, six-story mixed-use property at the corner of Varick and Laight streets.

Vanbarton TRData LogoTINY intends to redevelop the property into a mixed-use office, retail and lifestyle facility, the New York Post reported.

The sellers, Florida-based investment firm WhiteStar Advisors along with development firm VE Equities, headed by Zach Vella and Justin Ehrlich, paid $56 million for the former warehouse at the end of 2012 from Mazda Realty Associates, and subsequently bought out the office tenants, including Tribeca Film, which received $2.8 million in June 2016.

The building’s been on and off the market since 2014, when the owners shopped it around for $105 million. When Whitestar bought the property, it intended to repurpose the building as condos, sources said at the time. [NYP]E.B. Solomont

Related Articles

Rodrigo Niño, 17 John Street and 85 West Broadway (Credit: Prodigy Network, Google Maps)

Crowdfunding firm seeks $30M bailout for second commercial building

Tribeca neighbors locked in a protracted legal dispute over access to an alley, 5 Franklin Place, raise questions about city agencies’ actions after lobbying. (Credit: Google Maps, Wikipedia Commons, iStock)

In Tribeca, an alley fight for the ages

Meryl Streep, 92 Laight Street and Kenneth Tropin (inset) (Credit: Getty Images and Google Maps)

Hedge funder Kenneth Tropin is buyer of Meryl Streep’s Tribeca pad

Rumble's Chelsea location at 146 West 23rd Street, Noah Neiman and Brian Ripka (inset) (Credit: Getty Images and Google Maps)

The gloves are off: Another lawsuit for boxing chain Rumble

250 Church Street with Normandy’s founding partners Jeff Gronning, Finn Wentworth and David Welsh (Credit: Google Maps, Normandy)

Columbia, Normandy close on $205M purchase of 250 Church Street

305 East 46th Street (Credit: iStock)

Japanese firm lands $84M financing for Midtown East buy

Caspi Development’s Joshua Caspi, Core Asset Management’s James R. Parks, Hana Financial Investment’s Lee Jin-Kook, and 456 Greenwich

Goodbye bankruptcy, hello construction loan: Breakthrough for Tribeca hotel project

From left: Pavel Fuks, Michael Cohen, Felix Sater, and Donald Trump (Credit: Getty Images and Wikipedia)

As House begins impeachment inquiry, here’s what we know about Trump’s Ukraine-real estate ties