A Note in Tribeca: $30 M.

The home of our beloved Spin magazine has sold to the Laboz family, who appear to have designs on greater

The home of our beloved Spin magazine has sold to the Laboz family, who appear to have designs on greater respectability.

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The senior note on 408-410 Broadway just sold for $30 million to United American Land, the Laboz family’s company. They will now lease the majority of the property to Professional Business College, a Chinatown-based school, which we imagine will bring a rather different vibe.

The five-story building, with its distinctive Italianate façade and which was formerly owned by Vanick Properties, recently underwent a major core renovation in 2007, but likely it will still get a bit of a touch-up.

 

 

Cushman & Wakefield‘s New York Capital Markets Group, led by Steve Kohn, Helen Hwang, Nat Rockett, Karen Wiedenmann and Mark Ehlinger, represented the lender. Newmark Knight Frank‘s Justin DiMare represented the purchaser. 

lkusisto@observer.com

 

 

A Note in Tribeca: $30 M.