ML7 BUYS COMMERCIAL SPACE AT TRIBECA
CONDO BUILDING FOR $18M
But as one investor debuts in the city, another is
phasing out. The seller, MacKenzie Door
Company, owned the retail and office component
at 70-72 Reade Street, also known as 112-114
Duane Street, for more than 30 years, but now
plans to move most of its operations to New
Jersey.The deal closed today for $18 million, the
brokers confirmed.
The commercial condos span a combined 32,000
square feet across the first two floors and lower levels. The space will be delivered vacant, said Skyline
Properties’ Robert Khodadadian, who represented the buyer.
ML7 plans to convert the second-floor office space into two residential condos roughly 4,000 square feet
apiece. The units are slated to feature 14-foot-high ceilings and cast-iron columns. “This block of Reade
Street is currently undergoing a complete transformation with many of the surrounding buildings under
development,” Jeffrey Siegel, president of ML7, said.
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