ZG Capital Partners pays $65M to Savanna and Hornig Capital for office property in Mott Haven

Bobby Zar and James Tamborlane’s ZG Capital Partners through the entity Bruckner Partners LLC paid Savanna and Hornig Capital Partners’s Sobro Lofts LLC $64.7 million for 2417 3rd Avenue, 2415 3rd Avenue in Mott Haven. The deal closed on December 20, 2019, and was recorded on January 9, 2020. The transaction consists of 2 parcels, including the tax class office building with seven to 19 stories (O3). The property is 154,380 square feet. The parcel(s) have total development potential of 186,060 square feet.
The average sale price per square foot is $348.

The last time the property sold was March 5, 2015, for $30,570,000.
The DOB issued a major alteration (A1) initial temporary certificate of occupancy for the building on December 13, 2016.
Over the past five years, there have been 27 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 $100. There were 26 renovation/alteration projects (A2) applied for with a total estimated value of $9,260,125.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

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