Nelson, Suarez and Shalom of Cushman & Wakefield broker $22 million TriBeCa sale; for 51 White St. in TriBeCa; Friedman of Vertex Realty reps buyer

Manhattan, NY A loft building at 51 White St., located between Broadway and Church St. in the TriBeCa neighborhood was sold in an all-cash transaction valued at $22 million.

The five-story loft building contains 20,670 s/f which includes the lower level, and sits on a 38.67 ft. by 99.67 ft. lot. It features 12.5 ft. ceiling heights, over-sized windows and a sub-cellar. The roof top offers views of New York City icons like the Empire State Building to the north and One World Trade Center to the south. The property was delivered vacant and traded for $1,064 per s/f.

“This property represents an excellent condo conversion opportunity given the location and the fact that it was delivered vacant. The seller preferred to capitalize on the strength in the sales market as opposed to taking on the project themselves.” said Cushman & Wakefield’s James Nelson who exclusively represented the seller, R.A. Cohen & Associates, along with colleagues Will Suarez and David Shalom.

David Friedman of Vertex Realty Group represented the buyer, 51 White Street LLC.

The property benefits from close proximity to a number of popular shopping and dining options. It is accessible via the 1 train at the Franklin Street station and the N, Q, R and 6 trains at the Canal St. station.