Basset Properties sold the NoMad home of The Cutting Room music venue for $59 million.
Windsor Management Corporation picked up the 12-story building at 44 East 32nd Street, Commercial Observer reported.
“We plan to add value to the building through strategic capital improvement and high-end tenants build-outs,” Windsor Management COO and vice president Matthew Kiamie told the publication.
The deal was first reported on the Traded NY Instagram page.
Newmark Knight Frank’s Paul Davidson, Roy Lapidus, David Noonan, Jennifer Schwartzman and William Lee represented Basset in the sale, while LSL Advisors’ Daniel Lolai negotiated on behalf of Windsor.
Daniel Lolai
Basset bought the 91,111-square-foot building, which was built in 1916, for $510,000 in 1980. The property is 92 percent leased to tenants such as Urban Office, Top Notch Graphics and RPG Media Services.
The Cutting Room – co-founded by “Sex and the City” actor Chris Noth – has been a tenant in the ground floor space since 2013. [CO] – Rich Bockmann