Atlas Capital buying West Village building for $80M

Investor co-developing northern portion of St. John’s Terminal site

New York /
Dec.December 02, 2019 04:35 PM
110 Leroy Street (Credit: Google Maps)

110 Leroy Street (Credit: Google Maps)

The developer that sold the site of Google’s future Hudson Square headquarters last year is not done with the neighborhood.

Atlas Capital Group is in contract to buy a large commercial building on the border of the West Village and Hudson Square, just a few blocks from the former St. John’s Terminal building that will house Google’s $1 billion office, sources told The Real Deal.

The investment and development firm is paying $79.5 million for the nine-story, 80,000-square-foot building at 110 Leroy Street, according to a source familiar with the deal. The seller is Arthur Leeds Associates.

Representatives from Atlas Capital and Arthur Leeds did not respond to requests for comment. A CBRE team led by Darcy Stacom and Bill Shanahan marketed the property. The brokers couldn’t be reached.

Atlas Capital Group, headed by principals Jeff Goldberger and Andy Cohen, is familiar with the neighborhood. The company and its partner Westbrook Partners spent years negotiating a rezoning for the massive St. John’s Terminal a few blocks away in Hudson Square, a portion of which they sold to Oxford Properties Group early last year for $700 million.

Oxford is developing the southern part of the site into a 1.3 million-square-foot office building for Google. Atlas and Westbrook are reportedly planning to build somewhere between 350 and 430 apartments — a mix of market-rate and affordable/senior housing — on land they kept on the northern portion of the site.

Atlas has experience with both commercial and residential investments. The company co-owns a 1.1 million-square-foot former industrial building in Long Island City that Atlas and its partners repositioned as the trendy “Factory” office building. And Atlas developed the 10-unit, Annabelle Selldorf–designed condo building at 42 Crosby Street in Soho.

The immediate area around 110 Leroy Street is full of pricey new residential developments, such as Shibumi Development’s townhouse and condominium project at 601 Washington Street one block over and Property Markets Group’s 13-unit 111 Leroy Street condo directly across the street.


Related Articles

arrow_forward_ios
230 West 11th Street and former Deputy Mayor Vicki Been (Google Maps, Getty)
Former deputy mayor Vicki Been sold West Village home for $19M
Former deputy mayor Vicki Been sold West Village home for $19M
Chrome Hearts designers Richard Stark and Laurie Lynn Stark with the property (Getty, StreetEasy / Meris Blumstein)
Chrome Hearts co-founder picks up West Village home for $14.5M
Chrome Hearts co-founder picks up West Village home for $14.5M
Chipotle founder Steve Ells with 27 East 11th Street (Getty, BHS)
Chipotle founder wraps up $30M West Village crash pad
Chipotle founder wraps up $30M West Village crash pad
Parking spaces, resi building trade at discounts
Mid-market investors score parking garages, Queens apartments at discounts
Mid-market investors score parking garages, Queens apartments at discounts
Robert A.M. Stern designing West Village spec house
Robert A.M. Stern designing West Village spec house
Robert A.M. Stern designing West Village spec house
Aurora Capital President and Principal Jared Epstein with the Jane Street location (Google Maps, Getty)
Aurora Capital plans 11-story mixed-use building in West Village
Aurora Capital plans 11-story mixed-use building in West Village
30 Grove Street (Isaacs Ganz / RESERVE Real Estate)
West Village townhouse asking $28M in contract
West Village townhouse asking $28M in contract
Leslie J. Garfield and 313 West 4th Street (Google Maps)
Leslie J. Garfield’s former townhouse sells for $15M
Leslie J. Garfield’s former townhouse sells for $15M
arrow_forward_ios

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

Loading...