Savanna Sells SoHo Shops for $80M
July 15, 2013

A joint venture of ASB Capital Management LLC, Imperium Capital, and Centurion Realty LLC has acquired the 14,039-square-foot retail condo portion of 465 Broadway (aka 40 Mercer St.) in New York City for $80 million, or about $5,700 per square foot, from Savanna. 

The retail condo includes 9,400 square feet at grade, and 4,700 square feet of below-grade space in the 13-story, 156,000-square-foot, Jean Nouvel-designed luxury residential condominium building that was constructed in 2007 by Hines, Goldman Sachs and Andre Balazs on half an acre in Manhattan's SoHo district. The steel and glass building provides a striking contrast to the older, redeveloped buildings in the area.

Woody Heller, Will Silverman, Eric Negrin and Daniel Parker at Studley were the sole brokers in the sale.