4/22/2008

Historic Manhattan office building fetches $29M

by

408-410 Broadway

Apollo Rooms Associates, LLC, a subsidiary of Westwood, N.J.-based Vanick Properties, Inc., has purchased the historic 408-410 Broadway building in Manhattan for $29 million from 408 Broadway Corp.

Jon Epstein, Charles Kingsley and Yoav Oelsner of Cushman & Wakefield's Capital Markets Group brokered the transaction.

Built between 1866 and 1868, the building contains 60,600 square feet. It recently underwent renovations by local architectural firm Edward I. Mills & Associates Architects PC. The five-story building was delivered vacant.

Vanick purchased the property in a joint venture with HKarten Realty, LLC.

Epstein, Kingsley and Oelsner recently brokered the $38.5 million sale of the Dia Arts Center in Chelsea and the $56M sale of the Booth House in New York City.

Address: 408-410 Broadway, New York, N.Y.

Size: 60,600 square feet

Built: 1866-1868

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Filed Under: Office

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