NEW YORK CITY—Following an extensive repositioning of the Brill building after buying it two years ago, property owners Allied Partners and Brickman are in contract to sell the asset for $295 million, GlobeSt.com has confirmed. The partners paid approximately $186 million for the iconic 175,000-square-foot building at 1619 Broadway.
The buyer is Brill Holdings—a partnership of real estate investment firm B+B Capital, Israel-based fashion chain Fox-Wizel and landlords Conway Capital and Schottenstein Realty—according to the Commercial Observer. Ilan Bracha, the co-founder of Keller Williams NYC and founder of B+B Capital, brokered the deal on behalf of Brill Holdings. Richard Baxter and Ron Cohen of JLL represented the seller. JLL declined to comment.
“The Times Square area continues to be a staple in New York City culture and we are proud to be part of the neighborhood's dynamic experience. We are fortunate to feel the pulse of the city and embrace the history this building embodies,” Bracha says. “The Times Square bowtie is expanding and we want to be a part of its extension. We are proud to own such a piece of history as The Brill Building, as well as its location in what I call one of the best corners of the world.”
Allied and Brickman made the 11-story landmark building into a “modern-day creative center” with four floors of renovated retail space and renovated commercial areas.
The Brill Building was named for the Brill brothers, Samuel, Max and Maurice, who owned men's apparel stores in Manhattan. It's located between East 49th and East 50th Streets and has two tenants—including the Songwriters Hall of Fame—while the rest of the building is vacant.
It is famous for being the home of the numerous music offices and studios from the 1930s until the late 70s. Songwriters such as Jerry Leiber and Mike Stoller, who wrote numerous hit songs for Elvis Presley, worked in the building. Jazz icon Duke Ellington and vocalist Nat King Cole had office spaces in the building at different times.
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Rayna Katz
Rayna Katz is a seasoned business journalist whose extensive experience includes coverage of the lodging sector, travel and the culinary space. She was most recently content director for a business-to-business publisher, overseeing four publications. While at Meeting News, a travel trade publication, she received a Best Reporting award for a story on meeting cancellations in New Orleans during Hurricane Katrina.
