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Chetrit Group Picks Up Noho Site for $40M

NEW YORK CITY-The Chetrit Group acquires a 140,000-sf commercial site with a retail component in the Noho section for $39.5 million. The property was not even officially on the market at the time of the sale.

By Barbara Jarvie | Updated on July 12, 2005

NEW YORK CITY-In an off-market deal, the Chetrit Group has acquired a 140,000-sf block-thru site in Greenwich Village for approximately $39.5 million. According to one broker involved in the deal, the firm is interested in redeveloping the property as residential.

The commercial building at 708 Broadway or 402-408 Lafayette St. sits between Astor Place and East 4th Street. Crunch Fitness, which was recently acquired by Bally’s, is the anchor retail tenant occupying 33,900 sf on three floors on the Lafayette frontage, while a clothing store occupies retail on the Broadway frontage.

All upper floors are occupied by large office users. The Broadway side and Lafayette sides have varying heights, Broadway being ten stories and Lafayette being eight.

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