The much sought-after 529 Broadway, a two-story building on the northwest corner of Spring Street in the middle of a busy shopping district, has been sold for $150 million to Jeff Sutton, Joe Sitt, the Adjmi family and Bobby Cayre’s Aurora Capital.
The 22,500-square-feet property, the subject of an off-market bidding war, will be emptied and razed. A new building of about 40,000 square feet will be built on the site, sources said.
Vornado Realty Trust and Invesco were among those that lost out in the bidding.
Goldstone Realty was the seller and the deal closed today.
