NEW YORK CITY-BCN Development has signed a deal to purchase the residential loft building located at 9 East 16th Street for nearly $17 million. The company will acquire nearly $10 million existing loan on the building sanctioned by Sovereign Bank. A firm managed by William Punch and Maurice Laboz is the seller of the property.
Steak Frites is the retail tenant of the 50-foot-wide building with several arched windows and 13-foot ceilings. For the full story, go to New York Post.
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