The Real Deal New York

Winter Properties buys West Village commercial building for $89M

Home of restaurant Barbuto last sold in 2015 for $71M
By Meenal Vamburkar | July 02, 2018 06:15PM

771 Washington Street (Credit: Google Maps)

David Winter’s Winter Properties appears to be the buyer of a West Village commercial building for $89 million.

The two-story, roughly 21,000-square-foot property at 771-775 Washington Street is home to the Italian restaurant Barbuto and a garage. The sale was recorded in property records filed with the city Monday.

The seller, in records as 771 Washington Street Investors LLC, is tied to Harry Jeremias’ Harch Group and Toms Capital. The entity paid $71 million for it in 2015.

Winter secured a $50 million loan from JPMorgan Chase for the recent acquisition, records show.

In 2016, plans — presented by preservation consultancy Higgins Quasebarth & Partners and BKSK Architects — were filed to redevelop the retail-and-garage property with office and restaurant space. At the time, the Landmarks Preservation Commission asked that the proposal be refined and the applicant consider reducing the height. The project was later green-lit. The expanded building would have four stories and roughly 36,000 square feet of commercial space.

For the time being, the building is “staying as is,” said a spokesperson for Standard Industries. “We are looking at it for a number of options.” Harch Group and Toms Capital couldn’t immediately be reached for comment.

Winter Properties’ holdings are a mix of commercial and residential properties — including 800 Fifth Avenue and 26 West 17th Street. In 2015, the company sold the Crown Building to a group of investors led by Jeff Sutton for $1.78 billion.