$24M Blatt Billiards deal signals end of an era
The Blatt Billiards loft building in Union Square — one of the last relics of the area’s manufacturing past — is set to trade hands for $24 million, underscoring the neighborhood’s shift to a hothouse for startup technology and media firms.
Blatt Billiards, a pool table manufacturer, has owned its six-story headquarters at 809 Broadway between 11th and 12th streets since 1972, city property records show, but was a tenant at the location before then. It has been manufacturing in New York City since 1923.
The company, through principals Ronald Blatt and Bruce Roeder, inked a deal in May to sell the property. The closing is set for Jan. 2, 2014. The buyer was identified only as 809 Broadway Associates.
The 23,152-square-foot building includes an additional 7,045 square feet of air rights, data from PropertyShark show.
Joseph Berko, a president of Berko & Associates, represented the buyer and seller in the deal, a representative from the brokerage firm said. He declined to comment.
The building is in a manufacturing zone and would have to get a variance from the city to allow a residential use, insiders said.
Blatt declined to comment.
The company is relocating its manufacturing to New Jersey and expects to purchase a building in Hell’s Kitchen which it will use as a showroom, several industry insiders said.