The Real Deal New York

Aby Rosen buys New York REIT retail condos for $31M

The Village deal is part of REIT's mass sell-off
By Eddie Small | February 09, 2018 05:32PM

122 Greenwich Avenue, Wendy Silverstein and Aby Rosen (Credit: PropertyShark)

Aby Rosen’s RFR Realty has purchased eight retail condominium units at 122 Greenwich Avenue in the West Village for $31 million from New York REIT.

New York REIT had hired RKF last June to market its units at the property, which is also known as One Jackson Square.

The company is in the midst of a massive liquidation and also recently sold the retail condo unit and parking garage at 350 West 42nd Street to HUBB NYC for $25 million, marking the first sale of a standalone retail property in the liquidation of its multibillion-dollar portfolio. The property at the base of the Orion condo-and-rental building spans about 43,000 square feet.

The real estate investment trust brought on CEO Wendy Silverstein in 2016 to dissolve its portfolio and has already sold off several of its large office buildings. Last fall, it sold a 49 percent stake in One Worldwide Plaza in a deal that valued the tower at $1.7 billion, and it sold its 25-story office building at 1440 Broadway to CIM Group for $520 million as well.

New York REIT declined to comment, and RFR Realty did not immediately respond to a request for comment.