NEW YORK CITY-An old Tootsie Roll factory on Grand Street in SoHo is in contract for approximately $39 million. DDG Partners has agreed to take the four-building complex totaling 56,000 square feet at 325 W. Broadway for $650 to $700 per square foot.
Lehman Brothers Holdings Inc. retained HFF to market the property. The firm took control over the property after ADG-Soho LLC, the previous owner, defaulted on a $19-million loan in 2010. DDG Partners will attempt to turn the factory into condos. For the full story, go to Crain's New York Business .
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