NEW YORK—810-VE LLC has acquired 13-17 Laight Street in Manhattan’s Tribeca neighborhood from Mazda Realty Associates, for $56 million. The property, a mixed-use loft, contains six stories totaling 80,000 sq. ft. of space.
Eastern Consolidated Senior Director/Principal Robert F. Ortiz, Financial Analyst Paul J. Nigido, along with Aaron Grumet, senior director at DY Realty Services LLC, represented the seller. Eastern Consolidated’s Executive Managing Director Alan P. Miller with Ortiz acted on behalf of the buyer.
The property offers frontage on Laight Street, Varick Street and St. John’s Lane. Three ground-floor retail tenants occupy the retail component of the property. The property also contains nine residential lofts and 16 commercial units.
“This offering generated tremendous interest because of its location in what is considered Manhattan’s most sought-after trendy neighborhood,” said Ortiz. “Additionally, there’s tremendous future financial upside potential to be achieved by renovating the residential units and/or converting the commercial units into residential lofts in order to achieve very aggressive market rents, or effecting a luxury residential condo conversion.”