Nonprofit signs $7M contract to sell Tribeca retail
225-227 West Broadway (Credit- Google)
The entity 225WBdwy Holdings LLC, with unknown corporate offices and ownership, signed a contract to pay $7 million to a Sufi religious congregation for the 4,250-square-foot, three-story retail building at 225 West Broadway, just south of White Street, in Tribeca, according to a document dated June 25, 2025, signaling the New York State Attorney General’s approval for the sale of real estate owned by a nonprofit or religious group.
The sale is for the existing building only, and not for the air rights. The contract price per built square foot is $1,647 per foot.
PincusCo could not identify the ownership of 225WBdwy Holdings LLC, nor find it registered with New York State as a local or out-of-state New York State corporation, as of publication.
The seller is a religious group, the Nur Ashki Jerrahi Community, led by its president, Fariha Friedrich. The group is part of the global Sufi Islamic community. Sufism is a mystical religious practice within Islam.
The mixed-use building in Tribeca has 4,250 square feet of built space and 6,538 square feet of additional air rights for a total buildable of 10,788 square feet according to the Attorney General document. The parcel has frontage of 35 feet and is 50 feet deep with a total lot size of 1,798 square feet. The lot is irregular. The zoning is C6-2A which allows for up to 6 times floor area ratio (FAR) for commercial and up to 6.02 times FAR for residential with inclusionary housing. The property is in the Tribeca East Historic District. The city-designated market value for the property in 2022 is $2.5 million.
The Attorney General document says the seller will transfer the 6,538 square feet of air rights to the adjacent building 5 White Street, which Nur Ashki Jerrahi Community also owns and is the group’s headquarters. In addition, proceeds from this sale will be used to buy out interim multiple dwelling (IMD) residents at 5 White Street, “thereby maximizing the value of the 5 White Premises.”
Development
Over the past five years, there has been no NYC Department of Buildings new building, demolition, or alteration permit application valued at more than $20,000 filed for this parcel.
Violations and lawsuits
According to city public data, the property has received $2,080 in OATH penalties in the last year.
There were no lawsuits or bankruptcies filed against the property for the past 24 months.
The neighborhood
In Tribeca, The bulk, or 47 percent of the 15.3 million square feet of commercial built space are office buildings, with elevator buildings next occupying 28 percent of the space. In sales, Tribeca has near average sales volume among other neighborhoods with $403 million in sales volume in the last two years and is the 22nd highest in Manhattan. For development, Tribeca has near average amount of major developments among other neighborhoods and is the 13th highest in Manhattan. It had 2.5 million square feet of commercial and multi-family construction under development in the last two years, which represents 16 percent of the neighborhood’s built space.
The block
On this tax block, PincusCo has identified the owners of three of the nine commercial properties representing 48,448 square feet of the 122,557 square feet. The largest owner is Epic, followed by J&M Realty Services and then John Rosenmiller. On the tax block, there were two new building construction projects totaling 49,508 square feet. The largest is a four-unit, 24,754 square-foot residential (R-2) building submitted by Joseph Mcmillan Jr.|Christopher Prokop and filed by Michael Ferry with plans filed June 10, 2014 and permitted December 16, 2016. The second largest is a six-unit, 24,754 square-foot residential (R-2) building submitted by Michael Ferry with plans filed June 10, 2014 and permitted February 7, 2017.
The surrounding
Within a 400-foot radius of 227 West Broadway, PincusCo identified 12 commercial real estate items of interests occurred over the past 24 months. Of those 12 items, one was in new building development. It was a new building permit issued on March 5, 2024 for a 20,301-square-foot residential (R-2) building with nine residential units at 14 White Street. Of those 12 items, six were sales above $5 million totaling $103.8 million. The most recent of the six was Daniel Roshco, As Trustee which bought one condo unit in the 4,165-square-foot, 14-unit mixed-use building (RM) on 132 Franklin Street for $12.6 million from Seccia, Peter on April 9, 2025. Of those 12 items, five were loans above $5 million totaling $287.1 million. The most recent of the five was Sumaida + Khurana in which borrowed $15.3 million from Cerco Funding secured by the 11,700-square-foot, 10-unit mixed-use building (K4) on 23 Avenue Of The Amer on December 17, 2024.
Direct link to the property’s ACRIS page and link to DOB NOW portal.