Ezratty and Ortiz of Eastern Consolidated broker $90 million sale; Represented seller and procured buyer

Manhattan, NY Eastern Consolidated has arranged the $90 million sale of a six-story, 82,500 s/f corner loft building at 13-17 Laight St., aka 52-58 Varick St. and 20-24 St. John’s Ln., in TriBeCa. The building was previously used as the main venue for the Tribeca Film Festival.

Brian Ezratty, vice chairman and principal of Eastern Consolidated, and Roberto Ortiz, senior director and principal, represented the seller, 810-VE Laight, LLC, a partnership between Whitestar Advisors and VE Equities, a development firm headed by Justin Ehrlich and Zach Vella.  Ezratty procured the buyer, the Vanbarton Group, in this off-market deal.

The transaction marks the second time Eastern Consolidated has arranged the sale of this property. Ortiz represented 810-VE Laight, LLC when it purchased the building for $56 million in 2012, and also represented the seller at the time, Mazda Realty Associates LLC.

“After a contract on the building fell through last summer, we brought in a new offer from a great buyer, arranged a new contract in August, and closed the deal in less than 60 days,” Ezratty said.

Ortiz said, “This is an exciting opportunity in the heart of Tribeca. The property was delivered vacant and the buyers are planning to convert it into a high-end office building.”

The pre-war, elevator building offers 140 feet of frontage on Laight Street, 99 feet of frontage on Varick Street, and 99-feet of frontage on St. John’s Lane, 12-foot ceilings heights, open interior floor plans, and exceptional light and exposure with dramatic cityscape views.

The property is in a highly accessible location, just steps from the A, C, E & 1 lines and Holland Tunnel.