Schectman, Pavone and Lieberman of Eastern Consolidated rep seller in $19.6 million sale; Anton and Solarz of Eastern Consolidated procure buyer of 6,160 s/f development site

The deed to a 6,160 s/f downtown development site at 133-135 Greenwich, one block south of the World Trade Center project, with approvals for the construction of a 156,000 s/f residential/commercial property, traded for $19.6 million. The buyer is Greenwich Thames, LLC. Eastern Consolidated principal David Schectman and directors Marion Pavone and Lipa Lieberman represented the seller, Greenwich Thames, LLC and US Bank in the Section 363 sale of the deed and senior secured first mortgage tied to the site, and principals Eric Michael Anton and Ronald Solarz procured the buyer. The site is at the corner of Greenwich and Thames Sts. "The site owners were embroiled in a Chapter 11 proceeding and saddled with significant debt, but plans to build a luxury mixed-use property were approved before the market downturn," said Schechtman, who began this representation nearly two years ago. "We represented the debtor in the proceedings and worked closely with US Bank, the principal creditor." Partners Solarz and Anton once again produced two extremely well qualified bidders, an auction ensued and the successful buyer emerged. Solarz said, "I have been working with the 'under the radar' buyer for nearly 16 years and am thrilled to have introduced them to such a wonderful and meaningful project." Greenwich Thames LLC eventually plans to construct a building with direct and unobstructed views of the World Trade Center. "Existing buildings have been demolished and the site is prepared for construction," said Anton, who added that the one square mile below Chambers St. boasts a population that's almost double what it was in 2001. "Downtown has become one of the city's newest and most popular residential neighborhoods and given such major infrastructure improvements as The Fulton St. Transit Center, the World Trade Center PATH Station and the much hoped for direct rail link from the World Trade Center to JFK airport, it is only going to become more and more sought-after."