Azure Investment Capital pays $11M for retail property in Tribeca

Yoonwhe Moon’s Azure Investment Capital through the entity Azure Tribeca LLC paid Sylvia Weinstock’s 273 Church Street Associates $10.5 million for 273 Church Street in Tribeca. The deal closed on January 16, 2020, and was recorded on February 3, 2020. The transaction consists of 1 parcel, including the tax class retail building with apartments above (K4). The property is 7,799 square feet. The parcel(s) have total development potential of 11,341 square feet.
The average sale price per square foot is $926.

The DOB issued a major alteration (A1) initial temporary certificate of occupancy for the building with one residential unit on December 5, 2019.
Over the past five years, there have been 2 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. Of those there was one major renovation application including a certificate of occupancy change (A1) filed with a total estimated value of $198,554. There was one renovation/alteration project (A2) applied for with a total estimated value of $172,877.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link