Lincoln Property Sheds 700 Broadway for $70M

NEW YORK CITY-The Dallas-based Lincoln Property Co. building at 700 Broadway has changed hands. Law firm Weitz & Luxenberg PC is said to be the buyer, however Lincoln Property simply named them as 700 Broadway 1891 LLC. The buyer has paid $70 million for the 100,000-sf property, and reportedly plans to occupy sometime next year when it relocated from its current location at 180 Maiden Ln.

The eight-story building is situated on the northeast corner of Broadway and 4th Street in Greenwich Village. It was an abandoned property when it was purchased by the National Audubon Society in 1989. The not-for-profit conservation organization renovated the facility and made it a model of green office technology.

In March, Jared Kushner was reportedly in contract to buy the building for $80 million, but the sale fell through. In Dec. 2006, Lincoln Property purchased the Greenwich Village building for $53 million from the National Audubon Society in an off-market transaction, as GlobeSt.com previously reported. At the time, the building was almost completely leased with non-for-profit tenants.