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Brill Building Sells for Big Gain

NEW YORK CITY—Purchased for $186 million, the iconic property is under contract for a sharply higher price after a repositioning.

By Rayna Katz | Updated on August 10, 2015

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.

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