Altman Leads Another 915 Broadway Buy
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|An investor group organized by ABS Partners chairman Earle Altman announced this morning that it has acquired Silicon Alley gem 915 Broadway for $140M. The off-market deal allows the original partners (which Earle was also a part of) to monetize their investment while providing the new investment group an opportunity to own a building in one of the hottest markets.|
|The 20-story, 250k SF office and retail property was purchased by Earle and sellers for $6M in 1981—the year the first DeLorean DMC-12 (Back to the Future fans?) rolled off the production line. Now 31 years later (but still without a hoverboard), the building is full, and the all-in buy was financed through JPMorgan Chase by Ackman-Ziff’s Simon Ziff, Russell Schildkraut, and Jonathan More. Joining Earle in the group are ABS collegaues Gregg Schenker, Steve Hornstock, and James Caseley, as well as seasoned investors Richard Hadar, John Zirinsky, and Jeffrey Feil.|