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Deals & Dealmakers

HFF tapped for Tribeca loft building

Holliday Fenoglio Fowler has just announced that it has been tapped to market an 18,089 s/f mixed-use property in Tribeca.

The five-story property, which was built in 1861, is located at 315 Broadway, on the west side between Duane and Thomas Streets.

HFF, which described the property as “one of the classic loft buildings still up in New York,” said that it is typical of the style that was prevalent when Broadway first became the city’s main thoroughfare.

“As Broadway expanded, it became very busy there and this was part of that development from the Wall Street area up,” said Eric Anton, who is part of the investment sales team representing the seller, Chloe Elizabeth Realty LLC.

The building has 14,186 s/f of office space and 3,903 s/f of ground floor retail currently occupied by liquor store Broadway Spirits and La Belleza Pizza.

According to Anton, the property is ideal for repositioning. “The idea is to reposition it as a residential building or upgrade and reposition it as a boutique office building,” he said.

“As an office building, it would need a lobby, hallway and elevator. As a residential building, you have to deliver all the systems and completely change the building… You’re going to be putting a lot of money into it to create value.”

HFF said that it expects to sell the property for around $20 million. Currently, the building is occupied by tenants with short-term leases.

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