Kachanian of Klosed Properties and Namdar of Namdar Realty Group purchase 306 W 13th Street

The property located at 306 W 13th St. has sold for an undisclosed sale price. The buyers are Steven Kachanian, principal at Klosed Properties and Igal Namdar, owner of Namdar realty Group. The seller was a couple who has owned the property for over a decade. The broker on the transaction was Hy Schermer from Time Equities, he represented both parties. Time Equities was the original sponsor when the building was converted to coops many years ago. "We bought the property because of the location, which is at the cusp between Meatpacking and the West Village. They are both very dynamic markets with very limited supply of retail. The second reason is because the space is built-out as a restaurant, which has an intrinsic value. Klosed Properties has built a niche in the food and beverage business, as we own several other locations occupied by bars and restaurants, so this is a strategic purchase for us," said Kachanian. Josh Siegelman from Winick is marketing the space and already has very strong interest from several tenants. He represented Klosed Properties at 80 John St. and secured a lease with Dunkin Donuts in 2 weeks. He is very knowledgeable of the market and aggressive. "This property was not put on the market, but when the sellers received our aggressive all-cash offer and terms, they could not turn it down. The entire transaction was closed in a very short time frame. We are constantly looking for new opportunities in growing retail markets," said Jacob Namdar, director of acquisitions for Klosed Properties "The space occupies the first floor and lower level of the building for a total of 2,900 s/f. This is our first purchase in this area and we are very exited about the long term potential. We are currently under contract for a 5-story building on St. Marks Place, a retail coop on E 28th Street near Park Avenue and they also have a food and beverage component," said Kachanian.