Queens investor in contract on Chinatown retail condo for $28M Gurpeet Singh’s Jamaica Woods to acquire three-floor, 17K sf unit at 11 East Broadway
Singh’s Jamaica Woods Holding LLC is paying $1,664 per square foot for the nearly 17,000-square-foot property, consisting of the first three floors and basement of a 15新爱上海同城对对碰论坛 -story, 58,000-square-foot commercial condo building at 11 East Broadway, on the corner of Catherine Street.
Jamaica Woods will acquire the space – currently triple net leased to HSBC Bank for the next eight years, plus a 10-year tenant renewal option from a consortium of Chinese American professionals who own many of the office condos at 11 East Broadway, sources said.
The professionals, largely doctors and lawyers, either have their own offices in the building or rent them out to accounting, dental or legal tenants. They also developed the Wyndham Garden Chinatown, a 106-room hotel located nearby at 93 Bowery.
Kevin Salmon and Christian Wood of Midtown-based Khizer Property Advisors represented both the buyer and the seller. Salmon confirmed the transaction, and said Khizer is also representing the seller consor新上海贵族宝贝论坛 tium as it prepares to put the office condo units it owns on the upper floors of the building on the market in the coming weeks.
Singh is buying the[……]