Atlantic Capital Partners sells 893 Bdwy. 25,442 s/f office/retail building for $31 million

Manhattan, NY Atlantic Capital Partners has sold 893 Bdwy., a boutique office and retail building located in the Flatiron District. Situated at the intersection of Broadway and East 19^th St., just blocks from Union Square Park, Madison Square Park, and the Flatiron Building, 893 Bdwy. presents an opportunity to acquire a renovated, fully leased asset with long-term upside potential.

The transaction was led by Justin Smith, head of capital markets; Chris Peterson, executive vice president; Sam Koonce, vice president; and Danielle Turpin, senior associate. Atlantic Capital Partners exclusively represented the seller in the transaction.

The five-story, 25,442 s/f building is 100% occupied. Saatva, the luxury mattress retailer, occupies the lower-level and ground-floor retail space. Chief, a private network for women executives, occupies floors two through five. A tenant since 2019, Chief transformed its space into a flagship clubhouse featuring a marble library bar, private call rooms, elegantly appointed lounges, seven conference rooms, and two penthouse terraces.

Peterson said, “Chief has done something truly special at 893 Bdwy. — their flagship clubhouse is unlike anything else in the market, and it speaks to the caliber of tenants this building attracts. Paired with Saatva’s luxury retail presence on Broadway, the property offers investors a rare combination of strong in-place cash flow and a best-in-class tenancy profile in one of Manhattan’s most sought-after corridors.”

893 Bdwy. underwent a comprehensive renovation in 2018. The capital improvements included a total replacement of the mechanical, HVAC, electrical, and fire detection/suppression systems, alongside a full restoration of the historic cast-iron façade, retail storefront, historic windows, and sidewalk vault. The building’s transformation is highlighted by a newly constructed fifth-floor penthouse featuring private terraces that overlook Broadway and East 19^th Street. The redesign preserves the building’s original Neo-Grec architectural style, while also modernizing key infrastructure that will solidify its useful life for future owners.

Smith said, “The 2018 renovation was truly comprehensive — prior ownership replaced every major system and restored the historic fabric of the building from the cast iron façade down to the sidewalk vault. The result is an asset that carries all the character of a landmark Flatiron property with the infrastructure of a new building, which gives the next owner exceptional long-term visibility and minimal near-term capital needs.”