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From left: 860 Washington Street, Masayoshi Son and Elon Musk (Photos via Getty; James Carpenter Design Associates)
A glassy building in the Meatpacking District that’s home to some of 2020’s hottest companies is now valued at $80 million after the partners who developed it completed a sale-leaseback deal.
Romanoff Equities bought the 10-story building at 860 Washington Street from co-developer Property Group Partners, records filed with the city Thursday show. The purchase price works out to about $700 per square foot.
At the same time, Romanoff leased the asset back to Property Group Partners for a term of 99 years.
Representatives from Romanoff and Property Group Partners could not be immediately reached for comment. A Cushman & Wakefield team of Adam Spies, Doug Harmon, Kevin Donner and Marcella Fasulo brokered the sale between PGP and Romanoff.