Laboz family plans 2 office developments
in Soho

The family’s United American Land has filed plans for a 40,000-square-foot office building at 419 Broadway, and a 45,000-square-foot building at 430 West Broadway.

New York /
Jul.July 03, 2019 10:45 AM
Albert Laboz of United American Land with 430 West Broadway and 419 Broadway (Credit: Getty Images and rendering via YIMBY)

Albert Laboz of United American Land with 430 West Broadway and 419 Broadway (Credit: Getty Images and rendering via YIMBY)

The Laboz family is planning to build two office and retail buildings on prime Broadway sites in Soho.

The family’s firm, United American Land, will break ground on a 40,000-square-foot building at 419 Broadway in the first quarter of next year, and a second building the following quarter at 430 Broadway, which will span 45,000 square feet, Crain’s reported. Laboz tapped architect Morris Adjmi to design both buildings.

Albert Laboz, who runs the firm with his brothers Jody and Jason, told the publication that, in part, the decision to move forward with the office buildings had been prompted by WeWork signing a 60,000-square-foot lease at his firm’s 408 Broadway last year.

“Frankly, there was a lull in the retail market, and we said this is a good time to re-evaluate what we had and how we can add value,” Laboz said. “We decided to go where the market is, and the market is on the office side.”

UAL oversees a portfolio of 60 buildings and has a vast presence in Soho. At another building 441, the firm just reportedly signed a five-year lease with Van’s General Store, a film production company led by actor Liev Schrieber. The firm will take the 3,300-square-foot penthouse, where the asking rent was $68 a square foot.

The firm has also been making investments across the river in Brooklyn. In January it paid $22 million for four buildings on a development site owned by Jeff Sutton. [Crain’s] — David Jeans 


Related Articles

arrow_forward_ios
From left: Starwood Capital’s Barry Sternlicht and Veracity Development’s Edmond Li along with 111 Mercer Street (Getty, Google Maps, Veracity Development)
Sternlicht’s LNR aims to foreclose on Veracity’s Soho condo
Sternlicht’s LNR aims to foreclose on Veracity’s Soho condo
From left: Michael Dell with 25 Water Street, Alex Sapir with 261 Madison Avenue and Marc Holiday with One Madison Avenue (Getty, Edge Funds, Sapir Organization, SL Green)
Office properties (yes, office!) got Manhattan’s biggest December loans
Office properties (yes, office!) got Manhattan’s biggest December loans
From left: Vanbarton Group’s Gary Tischler and Richard Coles along with 3 West 29th Street (Getty, Vanbarton Group, Google Maps)
Vanbarton eyes life sciences project at former HFZ site in NoMad
Vanbarton eyes life sciences project at former HFZ site in NoMad
KKR’s Henry Kravis, Related Companies’ Stephen Ross and Meta’s Mark Zuckerberg with 30 Hudson Yards (Getty, Rhododendrites CC BY-SA 4.0 via Wikimedia Commons)
Surviving the tech wreck: How the Manhattan office market could pivot
Surviving the tech wreck: How the Manhattan office market could pivot
From left: Newmark's Peter Shimkin and David Falk.300 East 42nd Street
Jamaican consulate inks 43K sf lease in Murray Hill
Jamaican consulate inks 43K sf lease in Murray Hill
KKR's Henry Kravis and Meta's Mark Zuckerberg with 30 Hudson Yards (Getty, Rhododendrites, CC BY-SA 4.0 via Wikimedia Commons)
KKR takes over Meta’s large 30 Hudson Yards office
KKR takes over Meta’s large 30 Hudson Yards office
Compass' Robert Reffkin and 90 Fifth Ave in New York City (Google Maps, Compass, Getty)
Compass puts HQ up for sublease – but still says agent-facing offices will remain open
Compass puts HQ up for sublease – but still says agent-facing offices will remain open
(Illustration by Kevin Cifuentes for The Real Deal with Getty Images)
Manhattan office market grinds to halt in brutal fourth quarter
Manhattan office market grinds to halt in brutal fourth quarter
arrow_forward_ios

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

Loading...