NEW YORK CITY-Developer DDG Partners is planning to convert the old Tootsie Roll factory situated in SoHo into a luxury condominium. The developer bought the vacant property last week for $38.35 million from Lehman Brothers Holdings Inc.
The four-building property is situated at 325 W. Broadway on Grand Street. Lehman Brothers Holdings foreclosed on the building in 2009 after ADG-Soho, the original owner, defaulted on a $27-million loan. The project will be finished in 24 months. For the full story, go to Crain's New York Business .
GlobeSt.com News Hub is your link to relevant real estate and business stories from other local, regional and national publications.
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.
