Thank you for sharing!

Your article was successfully shared with the contacts you provided.

NEW YORK CITY-The Times Square market is jumping these days. UNITE, the union representing employees in garment, textile and laundry industries, has sold its six-story 71,000 sf headquarters building at 1710 Broadway, which at the Northeast corner of 54th Street, for $23 million. C&K Properties, headed by Meir Cohen and Ben Korman, was the purchaser.

1710 Broadway was originally built in 1918 as the New York headquarters and showroom for the Ford Motor Co. Ford sold the property in the middle of World War II to the International Ladies’ Garment Workers’ Union, the forerunner of UNITE.

The CB Richard Ellis team of Michael R. Laginestra, Scott L. Gottlieb and David L. Sims arranged the sale between the seller and the buyer. Robert Nash and Fonda Duvanel, from the law firm of Schulte, Roth & Zabel LLP, acted on behalf of UNITE. William Cohen of Newmark & Co. represented C&K Properties in the 1710 Broadway transaction. Brian Waterman and Lance Korman, also of Newmark & Co., represented the tenant.

UNITE is consolidating its new headquarters into 275 Seventh Ave., a union-owned building in order to more efficiently run their organization, according to Sims.

The acquisition includes air rights for 10 additional stories above the current structure, according to the C&K principals. “This presents us with options for the future, but we are not contemplating any near-term development on top of the existing building,” adds Korman.

“1710 is a stunning building to add to our real estate portfolio and we are looking forward to welcoming our celebrity tenant now that the transaction has closed,” adds Cohen. He was speaking of entertainer Sean Combs, whose companies, including the Sean John fashion clothing line, will occupy the five floors of office space under terms of a 10-year lease. Some 7,200 sf of corner ground-floor retail space, with a 23-foot ceiling, plus 2,000 sf of mezzanine space and an 10,000-sf basement, are available for lease. Newmark is repping that space.

This is C&K’s second acquisition in the New York metropolitan area in recent weeks. In September, the firm acquired the 1.1-million-sf EAB Plaza in Uniondale, NY in a joint venture with the Moinian Group.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.