Michael Shvo-led group pays $382M to Jeff Sutton, Thor Equities for 530 Broadway in Soho

Michael Shvo, Bilgili Holding, Deutsche Finance and the German pension fund BVK through the entity BSD 530 Broadway Propco LLC paid Jeff Sutton and Thor Equities’s 530 Broadway Owner LLC $382 million for 530 Broadway in Soho. The deal closed on March 3, 2020, and was recorded on March 10, 2020. The transaction consists of 1 parcel, including the tax class office building with commercial with seven to 19 stories (O6). The property is 169,983 square feet. The parcel(s) have total development potential of 169,983 square feet.
The average sale price per square foot is $2,247.

The last time the property sold was March 6, 2014, when Sutton bought it for $326 million.

Over the past five years, there have been 21 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 21 renovation/alteration projects (A2) applied for with a total estimated value of $3,584,325.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link