Tawil’s Centurion buys Soho rental buildings for $62M

Thompson Street buy also includes 5 retail units

New York /
Jan.January 11, 2018 11:20 AM

Ralph Tawil and 68-72 Thompson Street

The Tawil family’s Centurion Realty added to their Soho portfolio with the purchase of two buildings containing 67 residential units on Thompson Street for $62 million.

The property, at 68-72 Thompson Street, consists of two contiguous six-story buildings with five storefronts and 100 feet of frontage on Thompson Street between Broome and Spring Streets. Of the 67 apartments, 56 are market-rate and 11 are rent-regulated.

The seller, Joseph Nabavi of Direct Management Corporation, has owned the building since 1995. In 2011, residents in the building were evacuated after a fire started in the basement of 68 Thompson Street, which spurred a legal tussle with the landlord.

The buildings, which were built in 1901 and are located in the South Village Historic District, were renovated in 2015.

The Commercial Observer reported the sale Wednesday. Brandon Polakoff and James Nelson of Cushman & Wakefield had the listing.

Ralph Tawil said the company was happy to add to their Soho portfolio, with includes mixed-use buildings at 123 Prince Street, 415 West Broadway and 465 West Broadway, among others. Centurion also recently sold the Gansevoort Park Avenue NYC for close to $200 million.


Related Articles

arrow_forward_ios
Clockwise from top left: 162 West 13th Street, 325 Avenue Y in Brooklyn, 1281 Viele Avenue in the Bronx (Credit: Google Maps)
Here’s what the $10M-$30M NYC investment sales market looked like last week
Here’s what the $10M-$30M NYC investment sales market looked like last week
Real Capital Analytics data showed that New York’s multifamily market had a very slow July. (Credit: iStock)
New NYC rent law “beginning to shut down investment”
New NYC rent law “beginning to shut down investment”
Numbers were down across the board (Credit: iStock)
New York’s multifamily market had its slowest first half of the year since 2011
New York’s multifamily market had its slowest first half of the year since 2011
(iStock/Illustration by Alexis Manrodt for The Real Deal)
Manhattan job losses in Q3 worst of any large county in the US
Manhattan job losses in Q3 worst of any large county in the US
Rudin Management's Bill Rudin, 1675 Broadway and Gannett CEO Mike Reed (Getty, Google Maps, Gannett)
Gannett to move its NYC office two blocks north
Gannett to move its NYC office two blocks north
A rendering of the facility at 1029 Newark Avenue in Elizabeth, Fidelco chairman Marc Berson and Elberon Development Group chairman Ann Evans Estabrook (Photos via JLL, Fidelco and Elberon)
Cold storage facility in New Jersey gets $34M loan
Cold storage facility in New Jersey gets $34M loan
Silverstein Properties' Larry Silverstein and Phase I of the Denizen Bushwick at 54 Noll Street (Getty, Google Maps/Illustration by Kevin Rebong for The Real Deal)
Silverstein offers to buy half of All Year’s Bushwick rental complex
Silverstein offers to buy half of All Year’s Bushwick rental complex
HSBC COO John Hinshaw (Getty, iStock)
HSBC to shrink its office footprint amid shift to WFH
HSBC to shrink its office footprint amid shift to WFH
arrow_forward_ios

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

Loading...