NEW YORK CITY—Tribeca Associates has reportedly agreed to acquire a leasehold interest of the 30 Broad St. office building here in a transaction valued at $130 million.
The firm, which co-developed the Baccarat Hotel and Residences on West 53rd St. with Starwood Capital Group, acquired a leasehold interest in the nearly 477,000-square-foot office tower from a partnership led by real estate investment firm Gotham Realty. The building is owned by the Goldman family, according to a report in Crain's New York Business.
Tribeca Associates will control the property until 2079 in exchange for paying rent to the Goldmans. The annual rent will be approximately $2.7 million until 2035, at which time the rent will be based on 4.5% of the market value of the land. A JLL team led by Scott Latham represented Gotham Realty in the transaction.
In February of last year, Starwood Capital and Tribeca sold the Baccarat Hotel to Chinese insurer Sunshine Capital Group for a reported purchase price of $230 million. That deal did not include the 49 for-sale residences located on the upper floors of the 50-story building according to a report in Globest.com.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
