Relevant:
- Thor Equities loses control of $50 million property (R.E. EMPIRE FLAILS AMIDST RETAIL DOWNTURN)
- Manhattan Office Tower Built During Property Slump Gets Its Second Tenant
- Iconic Chrysler Building sold at a huge loss
- NYC Landlords Slash Retail Rents to Ward Off Vacancies
- Foreclosed 23-Story, 475,789 Sq. Ft. KeyBank Center Auctioned Off for $7.15M; Handing Over the Keys, Cleveland Style
2017-03-23 — nypost.com
The owners -- including Allied Partners, Brickman & Associates, Israeli pension fund Halman-Aldubi and New York's Conway Capital -- got steamrolled by the weak retail leasing market. They'd hoped to cash in, or out, on the 180,000-square-foot landmark's 40,000 square feet of store space. But a possible deal with Jimmy Buffett's theme restaurant, Margaritaville, fell through.''
The below (courtesy of B.D.) is an excerpt of a July 2016 article, from when the new owners bought a $295 million stake in the building (it's not clear how large a share that represents). Regardless, this all sure looks "peaky" to us...
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, has bought into the landmarked Brill Building for $295 million, Commercial Observer has learned.
CO reported in August 2015 that the 175,000-square-foot building at 1619 Broadway between West 49th and West 50th Streets was in contract and as of today, Allied Partners and Brickman are co-owners of the 11-story building with Brill Holdings.
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