The ornate and landmarked cast-iron building at 490 Broadway on the corner of Broome Street is being sold for $145 million. The buyer, Ponte Gadea, is the real estate investment company controlled by Amancio Ortega, who also owns Inditex, the parent of Zara.
The contract was signed earlier this month, sources said.
The five-story building with 42,000 square feet was developed in 1857 by architect John Gaynor and modeled on a 16th-century Venetian library. Developed as a store for E.V. Haughwout & Co., it attracted folks that included Abe Lincoln’s wife, Mary Todd Lincoln, who purchased White House china here.
It also housed the first Otis hydraulic elevator — and folks would come to see the steam-powered rarity and stay to buy the merchandise.
Adam Spies, Douglas Harmon, Kevin Donner, Shannon Ching and Brett Siegel of Eastdil Secured marketed the emporium building for the long-time family owners.
This is the fourth Soho retail transaction completed by Eastdil Secured in the last six months. Those sales included 106 Spring St. for $145 million, 113 Spring for $70 million and 131 Spring for $277 million.
Neither Eastdil nor Ponte Gadea reps responded to requests for comment.
The World Trade Center’s master planner, Daniel Libeskind, is remaining downtown as he moves Studio Libeskind from 2 Rector to the full 12,500-square-foot 18th floor of 150 Broadway.
The 23-story, 276,000-square-foot office tower is at the corner of Liberty Street.
Libeskind was represented by Steven H. Marvin of Olmstead Properties.
The building owners, JEMB Realty, were represented by Scott Cahaly and Kyle Young of JLL. According to 42Floors, the asking rent a year ago was $49 per square foot and could have been higher now.
Two Rector is owned by Kushner Cos. and CIM Group — which in 2013 paid $140 million for the 466,000-square-foot building, or $300 a square foot, with an eye to converting it to residential. With downtown values bumping up, Real Estate Alert recently reported they have hired Harmon and Spies of Eastdil Secured to market the building to either remain as offices or for conversion.
Another architecture firm, Arquitectonica, will move from a sublease on the 10th floor of 100 Fifth Ave. in the Flatiron District to a direct lease for 9,500 square feet on the 6th floor on the 104 Fifth Ave. side of the double building. Michael Berman of JLL represented the tenant in the 10-year transaction, which had an asking rent in the high $70s per square foot.
The building also signed a new tenant and retained two others.
Venture capital firm New Enterprise Associates, which specializes in investing in technology and health care, will move to the 19th floor of 5,400 square feet. The asking rent was in the high $80s per square foot, as the loft-like tower floor has high ceilings, light and amazing views. Melissa Bazar and Remy Liebersohn of Cushman & Wakefield represented NEA.
Net-a-Porter, which now occupies the 11th and 12th floors, had an option and will expand into the 10,500 square feet on the 10th floor being given up by Arquitectonica. Owen Hane of Cushman & Wakefield represented the luxury fashion Web retailer.
Creative agency DeVito/Verdi renewed its 16th and 17th floors totaling 22,000 square feet that were to expire in 2016, giving it an additional three years. The asking rent was in the $90s per square foot.
“Tenants are exercising their options so they don’t lose the space,” said Margaret Egan of Clarion Partners, which owns the building on behalf of a co-mingled fund. Grant Greenspan and Michael Kaufman of the Kaufman Organization, which manages and leases the building, represented Clarion in these deals.
Egan said just one 9,500-square-foot pre-built is available on the 5th floor of the 104 side of the building, with an asking rent in the high $70s to $80s.
Mobile application consultant Appboy is moving to 318 W. 39th St., where the firm, which is growing and hiring, will have 27,000 square feet covering the entire 5th and 6th floors.
Daniel Lolai of LSL Advisors represented the app in the seven-year deal.
Matthew Mandell of Newmark Grubb Knight Frank represented the Garment District building.
The not-for-profit Second Stage Theatre signed an 8,000-square-foot lease on the 5th floor of 1501 Broadway in the middle of Times Square for its new offices.
Arthur Mirante and James Lizmi of Avison Young represented the theater production company in the 10-year deal that had an asking rent in the mid-$50s per square foot.
An Avison Young team of Michael Gottlieb, Tom Hines and David Cohen represented the Paramount Leasehold building owners.
The 800,000-square-foot 1501 Broadway, topped by its infamous chiming clock, is undergoing a major capital improvement program and already is home to the Nederlander Organization, the Dramatist Guild and other Broadway-related tenants.
Mirante previously advised Second Stage in the purchase of the Helen Hayes Theater at 305 W. 43rd St.
