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Brokerage
Posted: February 19, 2019
Stacom, Shanahan and Spector of CBRE complete $130.5 million sale
Manhattan, NY CBRE has completed the sale of Zero Bond St., also known as 670-674 Broadway, a five-story, mixed-use NoHo property. A private European investor purchased the 70,000 s/f building, which sits on the corner of Broadway and Bond St., for $130.5 million.
The CBRE team of Darcy Stacom, Bill Shanahan and Ryan Spector represented the seller, The Paramount Group, in the negotiations.
“Boutique assets have significant appeal to private investors,” said Spector.
There was no buyer representative in the transaction.
CBRE also arranged the sale of a number of similar assets over the past two years, including the sale of 9 East 40th St. to Eretz Group for $70.25 million and the sale of 163 Varick St. to APF for $64.9 million.
Zero Bond St. is fully leased by a number of high-profile tenants including fitness center Equinox, clothing brand Bandier and the social club Zero Bond, which is owned by Scott Sartiano.
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