NEW YORK CITY-An ownership group that spent nearly $148 million in December to acquire the two-story 528 Broadway building may be looking to expand and renovate the property rather than demolish it and build new.
Retail developers Bobby Cayre, Jeff Sutton, Joseph Sitt and the Adjmi family has filed plans for 528 Broadway that would add four stories to the building, according to the Real Deal. The plans, which are under review, call for an expansion of 26,921 square feet above the 17,200-square-foot building, according to documents filed earlier this month with the New York City Department of Buildings.
Industry sources expected at the time of purchase that the ownership would look to demolish the building and construct a two- to five-story building. See story in the Real Deal.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
