NEW YORK CITY—The Vanbarton Group has purchased the former main venue for the Tribeca Film Festival, at 13-17 Laight St., for $90 million.
The 82,500-square-foot corner loft building in Tribeca also has the addresses of 52-58 Varick St. and 20-24 St. John's Ln. It was sold by a partnership between Whitestar Advisors and VE Equities—a development firm headed by Justin Ehrlich and Zach Vella—known as 810-VE Laight, LLC.
Brian Ezratty, vice chairman and principal of Eastern Consolidated, and Roberto Ortiz, senior director and principal, represented the seller. Ezratty procured the buyer in this off-market deal.
The transaction marks the second time Eastern Consolidated has arranged the sale of this property. Ortiz represented 810-VE Laight, LLC when it purchased the building for $56 million in 2012, and also represented the seller at the time, Mazda Realty Associates.
“After a contract on the building fell through last summer, we brought in a new offer from a great buyer, arranged a new contract in August, and closed the deal in less than 60 days,” Ezratty reveals.
Ortiz continues, “This is an exciting opportunity in the heart of Tribeca. The property was delivered vacant and the buyers are planning to convert it into a high-end office building.”
The pre-war, elevator building offers 140 feet of frontage on Laight Street, 99 feet of frontage on Varick Street, and 99-feet of frontage on St. John's Lane, 12-foot ceilings heights, open interior floor plans, and exceptional light and exposure with dramatic cityscape views.
The property is situated steps away from the A, C, E & 1 lines and Holland Tunnel.
The 82,500-square-foot corner loft building in Tribeca also has the addresses of 52-58 Varick St. and 20-24 St. John's Ln. It was sold by a partnership between Whitestar Advisors and VE Equities—a development firm headed by Justin Ehrlich and Zach Vella—known as 810-VE Laight, LLC.
Brian Ezratty, vice chairman and principal of Eastern Consolidated, and Roberto Ortiz, senior director and principal, represented the seller. Ezratty procured the buyer in this off-market deal.
The transaction marks the second time Eastern Consolidated has arranged the sale of this property. Ortiz represented 810-VE Laight, LLC when it purchased the building for $56 million in 2012, and also represented the seller at the time, Mazda Realty Associates.
“After a contract on the building fell through last summer, we brought in a new offer from a great buyer, arranged a new contract in August, and closed the deal in less than 60 days,” Ezratty reveals.
Ortiz continues, “This is an exciting opportunity in the heart of Tribeca. The property was delivered vacant and the buyers are planning to convert it into a high-end office building.”
The pre-war, elevator building offers 140 feet of frontage on Laight Street, 99 feet of frontage on Varick Street, and 99-feet of frontage on St. John's Lane, 12-foot ceilings heights, open interior floor plans, and exceptional light and exposure with dramatic cityscape views.
The property is situated steps away from the A, C, E & 1 lines and Holland Tunnel.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.