Shinola parent company sells 177 Franklin in Tribeca for $18M

The entity 177 Franklin Street with member signatory Terrence Oved, an attorney, paid Bedrock Manufacturing Company’s The Bedrock Building/New York City, LP $18 million for 177 Franklin Street in Tribeca. The deal closed on March 20, 2020, and was recorded on April 16, 2020. The transaction consists of 1 parcel, including the tax class office building with commercial with one to six stories (O5). The property is 12,100 square feet.
The average sale price per square foot is $1,367.

Bedrock is the parent company of Shinola, and the retailer has occupied the building. The last time the property sold was October 18, 2011, for $14,250,000. Avison Young’s James Nelson, Charles Kingsley, Eric Karmitz, David Lawrence and Carter Lovejoy represented the seller.
The DOB issued a major alteration (A1) initial temporary certificate of occupancy for the building on March 5, 2020.
Over the past five years, there has been one NYC Department of Buildings permit application 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 $706,564.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link