L&L Holding, Beacon sell stake in 195 Broadway

195 Broadway and David Levinson
195 Broadway and David Levinson

UPDATE, 1:36 p.m., Dec. 3: L&L Holding Company and Beacon Capital Partners have sold a majority interest in the 29-story office building at 195 Broadway to institutional investors.

The property, located between Fulton and Dey streets, is valued at $500 million. David Levinson, who runs L&L, and his partners picked it up in 2005 for $266 million. Thomson Reuters Markets, Omnicom Group and HarperCollins Publishing are among the tenants at the building, which is fully leased.

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The purchase price was not revealed, the New York Post reported.

The owners recently wrapped a $50 million Landmarks Preservation Commission-approved expansion to add 35,000 square feet in retail space to the lobby and concourse. [NYP]Mark Maurer