Vornado, Madison Capital Close On Soho Site For $28.5M
Vornado, in a JV with Madison Capital, has closed on the purchase of 606 Broadway, also called 19 East Houston St, for $28.5M.
The acquisition is the culmination of an RFP put out by the city’s Economic Development Corp that Madison Capital won in 2012. The new construction building will have 22,750 SF of office space and 11,500 SF of retail space, along with an outdoor terrace.
The 6,200 SF site is used by the city to park emergency vehicles at the moment. Part of Vornado and Madison Capital’s deal involved finding and buying a replacement site for for the city for this use, which they did for $13M at 6-8 East 20th St.
The project went through an approval process from the Landmarks Preservation Commission, S9 Arcitecture made several changes to help it blend better with surrounding architecture in the Soho Historic Cast Iron District.
The building's Broadway-facing façade will have the look of the classic cast iron buildings the area is known for. The developers are set to break ground on the site in a few weeks.
