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.

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

Meridian Capital CEO Ralph Herzka and One Battery Park Plaza (Credit: Sean Zanni/Patrick McMullan via Getty Images; Google Maps)

Meridian Capital employee tests positive for coronavirus

Michael Shvo, Thor Equities’ Joe Sitt, Wharton Properties’ Jeff Sutton and 530 Broadway

Michael Shvo closes on Soho retail building for $382M

503 Broadway (Credit: Google Maps; Getty Images)

PacSun takes retail space in SoHo for NYC debut

From left: L&L Holding Company's 425 Park Avenue with CEO David Levinson, Citadel Securities founder Ken Griffin, and Vornado Realty Trust’s 350 Park Avenue with CEO Steve Roth (Credit: (Photo by Michael Kovac/Getty Images; L&L Holding Company; Vornado)

Citadel Securities expands nearby lease while waiting on 425 Park

135 West 50th Street and Industrious co-founders Justin Stewart and Jamie Hodari

Industrious reaches deal for 60K square feet in Midtown

JPMorgan's Jamie Dimon and 125 West 55th Street (Credit: Getty Images, Google Maps)

JPMorgan looks to sell Plaza District office building for $550M

260 Madison Avenue and Sapir Organization’s Alexi Sapir (Credit: Getty Images)

Sapir Org inks big renewal with law firm at 260 Madison

Abercrombie and Fitch CEO Fran Horowitz and an aerial view of 600 Broadway, blocked by 606 Broadway (Credit: Getty Images, Google Maps)

The curious case of 600 Broadway