Kushner Companies pays $39.8M to Ralph Tawil’s Centurion Realty and Ashkenazy Acquisition for commercial condo in Nolita

Kushner Companies through the entity 285 Lafayette Retail Owner LLC paid Ralph Tawil’s Centurion Realty and Ashkenazy Acquisition’s 285 Lafayette Realty LLC $39.8 million for a commercial condominium unit at 285 Lafayette Street in Nolita. The deal closed on October 16, 2019, and was recorded on October 22, 2019. The transaction consists of 1 parcel, including the tax class commercial condominium unit (R5).
The average sale price per square foot is about $1,200.
The estimated cap rate is 3.0%
The retail condo is approximately 31,500 square feet with 12,500 square feet on the ground floor, 9,000 square feet on a lower level and 10,000 square feet below that. The sale went into contract in May 2019, and was brokered by Kassin Sabbagh Realty’s Bunny Escava, Ally Dayon and Isaac Setton, as reported in the New York Post.
The DOB issued a major alteration (A1) initial temporary certificate of occupancy for the building with 30 residential units on May 12, 2017.

Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link