72-76 GREENE STREET SELLS FOR $41.5MM
New York City— Eastern Consolidated on Thursday said it
brokered the sale of 72-76 Greene St. for $41.5 million,
which equates to $1 ,186 per square foot, to Chicago-based L3
Capital with partner ASB Capital Management. Adelaide
Polsinelli and Robert Khodadadian , represented the buyer
and seller on the all-cash deal, according to a release.
Eastern brokered the deal on behalf of BSJ Soho, an affiliate
of the apparel company Bear USA. Situated between Spring
and Broome streets, the five-story mixed use elevatored
38,000-square-foot building in Soho's Cast Iron Historic
District contains two retail spaces, three commercial units and
three residential rent-stabilized lofts. Dubbed "The King of
Greene Street," because it represents one of the best examples
of French Reniassance/Second Empire styles in the area, the
release says, the sale marks the third time the building has
changed hands. Constructed in 1873 by architect Isaac
Duckworth and owned at various times by Steve Witkoff,
Gary Barnett and David Slaven, the building was most
recently home to an Apple Computer store in one of its retail spaces .
The Apple store was only temporary while the company revamped its Prince Street location; it
abandoned the Greene Street store in September, according to the New York Times. The new owner is
working to secure a new reta iler to take up Apple's vacated space on the ground, second and
basement levels.
Dedon Furniture currently occupies the north store. The building originally served as a
warehouse belonging to dry goods dealer Gardener Colby . "In addition to Eastern Consolidated's
hat trick of selling this three times, after two previous failed transactions, I was able source the
ultimate purchaser, an out of state buyer, who performed as promised and without a hitch," she
says in the release. "Fortunately, the seller Tom Hong, managing director of BSJ SoHo, remained
convinced that I would find the right buyer for his off-market trophy property" said Polsinelli.
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