Trade Secrets! ‘Wealthy Family’ Buys Devonshire Retail Space

2007 12 devonshire Trade Secrets! Wealthy Family Buys Devonshire Retail SpaceThe retail space on the ground floor of the Devonshire House, a prewar Greenwich Village beauty at 28 East 10th Street, has changed hands for $10.35 million. The buyer, according to broker Eric Anton, is “a very wealthy family here in New York.”

Eastern Consolidated represented the seller and, according to a release, “procured” the buyer, whose identity is “undisclosed.” Mr. Anton and Ron Solarz, both executive managing directors at Eastern Consolidated, worked with vice chairman Brian Ezratty and senior director Deborah Gutoff to broker the deal.

The 8,426-square-foot retail space is all leased up, and the new owner doesn’t plan on making any drastic changes. “It’s a pure investment,” Mr. Solarz said. The storefronts, which Ms. Gutoff called “local,” include Devonshire Optical, University Floral Design, Sunshine Cleaners, La Petite Coquette and Bagel Bob’s.

The seller was a partnership between the Cheshire Group and Sterling Equities, which together bought the building in December 2007, “a couple days before Christmas,” Mr. Anton said. Cheshire and Sterling converted the upstairs residential portion of the building from rentals to condos, which have been selling for an average of $1,850 a square foot.

Messrs. Solarz and Anton wouldn’t give the buyer’s identity, but Mr. Anton said it’s “one of the large New York real estate families.” Mr. Solarz added that the family has “a lot of experience in real estate.” Tantalizing!

Article continues below
More from Politics
(FILES): These two file photos show then Labor Secretary Thomas Perez (L) speaking to reporters about the minimum wage for federal contractors at the White House in Washington, DC, on Feburary 12, 2014; and Minnesota Democratic Congressman Keith Ellison (R) during a press conference about Islamophobia at the National Press Club on May 24, 2016 in Washington, DC.

US Democrats, licking their wounds from last year's election debacle, will pick a new leader on February 25, 2017 to take the fight to President Donald Trump and his Republicans. The race to chair the Democratic National Committee (DNC) features front-runners Tom Perez, a Hispanic-American and former secretary of labor under Barack Obama who is the establishment pick, and Keith Ellison, a black Muslim congressman from the party's progressive wing who has left open the prospect of pushing to impeach Trump. / AFP / Mandel NGAN AND Brendan SMIALOWSKI        (Photo credit should read MANDEL NGAN,BRENDAN SMIALOWSKI/AFP/Getty Images)
Sanders 2020 Just Became Much More Likely With Tom Perez as DNC Chair