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.

TRD 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
47 Greene Street and President & CEO of Acadia Realty Trust Kenneth F. Bernstein (Credit: Google Maps)

Acadia plows ahead with $122M retail investment in Soho

WeWork leases in Soho and Flatiron could be in trouble, according to a report (Credit: iStock)

WeWork leases in Soho, Flatiron most at risk: report

From left: 47-49 Greene Street, 129 West 46th Street and 457 Broome Street (Credit: Google Maps and Meridian Investment Sales)

Here’s what the $20M-$30M NYC investment sales market looked like last week

From left: 1271 Sixth Avenue, 30 Hudson Yards, and 55 Water Street (Credit: Wikipedia)

Manhattan leasing activity up year-over-year while asking rents hit record high

(Credit: iStock)

Office rents in U.S. are going up — barely

Paul Manafort and 29 Howard Street (Credit: Getty Images)

Feds put Manafort’s Soho condo up for sale with $3.6M asking price

From left: McCann Chairman & CEO Harris Diamond, Cohen Brothers Realty President & CEO Charles S. Cohen and 622 Third Avenue (Credit: Getty Images, Google Maps)

McCann inks 450K sf extension at Cohen Brothers’ 622 Third Ave

From left: One Manhattan West, Amazon CEO Jeff Bezos and One Court Square in Long Island City (Credit: Manhattan West, Getty Images, and Loopnet)

After LIC debacle, Amazon sizing up Brookfield buildings for new office: report

arrow_forward_ios