ABS Partners arranges $73 million sale

ABS Partners Real Estate, LLC has sold a development site at 353 and 355-357 Broadway in Tribeca for $73 million. Alan Cohen and Adam Maxson of ABS represented the seller. Situated on Broadway between Leonard and Franklin Sts., the combined lots total 10,956 s/f and have a floor area ratio of 10. Included in the package are 23,220 s/f of air rights from the neighboring lot at 359 Broadway, creating a total of 132,780 buildable s/f. "This is a unique property for this neighborhood - opportunities like this simply do not exist in Tribeca anymore. We received 10 bids from some of the city's most well-known developers, allowing us to achieve a selling price far beyond what was initially expected," said Cohen. ABS Partners Real Estate, LLC is a premier New York-based real estate services firm. Founded by industry leaders with more than a century of collective experience, ABS has assembled a dynamic team of professionals with expertise in all facets of real estate services, including owner-advisory services, leasing, sales and property management. ABS also specializes in land use and ground lease consultation, the transfer of development rights, fractional ownership valuation, FAR valuation, and services specifically related to the issues faced by families holding real estate for multiple generations.