Kushner Companies contracts to purchase 700 Broadway for $80 million; Cohen, Latham and Mirante of C&W represented the seller

The 19th century office building that serves as the headquarters of The National Audubon Society is getting a new owner. Continuing to expand its New York real estate holdings, Kushner Companies has contracted to purchase the 9-story, 100,000 s/f 700 Bdwy., at 4th St., from Lincoln Property Co. for $80 million. The sale is expected to close in February. The property, which was called the Schermerhorn Building when it opened in 1891, is a revered example of architect George Post's work in classical revival style. Remarkably, over a century later in 1992, it became the city's first "green" building when the National Audubon Society renovated the structure to serve as its headquarters and as a model of environmentally responsible design. The Society is moving out of 700 Broadway, where it occupies 50,000 s/f, next year. "It's difficult to resist an architectural masterpiece located in a vibrant neighborhood on one of the world's busiest thoroughfares. We obviously see a lot of upside potential in this acquisition," said, principal Jared Kushner, whose company also owns the Puck Building in Soho and recently purchased the Times Square office building at 321 West 44th Street. Ron Cohen, Scott Latham and Arthur Mirante of Cushman & Wakefield, Inc., brokered the transaction on the behalf of the seller. With its national network of community-based nature centers and chapters, scientific and educational programs, and advocacy on behalf of areas sustaining bird populations, The National Audubon Society engages millions of people of all ages and backgrounds in positive conservation experiences. Its mission is to conserve and restore natural ecosystems, focusing on birds, other wild life, and their habitats for the benefit of humanity and the earth's biological diversity.