![](https://images.globest.com/cdn-cgi/image/format=auto,fit=contain/https:http://www.globest.com/media/images/gsnewshub_logo.gif)
NEW YORK CITY-Developer DDG Partners is planning to convert theold Tootsie Roll factory situated in SoHo into a luxurycondominium. 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 onGrand Street. Lehman Brothers Holdings foreclosed on the buildingin 2009 after ADG-Soho, the original owner, defaulted on a$27-million loan. The project will be finished in 24 months. Forthe full story, go to Crain's New York Business .
GlobeSt.com News Hub is your link torelevant real estate and business stories from other local,regional and national publications.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.