Blatt Billiards’ Union Square Building Trades at $24M [Updated]
Lauren Elkies Schram March 4, 2014, 1:43 p.m.
Pool table manufacturer Blatt Billiards has sold its six-story building at 809 Broadway, according to property records.
The buyer, a syndicate of Israeli investors using the name 809 Broadway Holding LLC, paid $24 million for the building, which is between 11th and 12th Streets. The deal closed on February 13 and was recorded with the city today.
The new owners are planning to erect a mixed-use building with retail and condominium units asking north of $2,500 a square foot, said Joe Berko, founder and president of Berko & Associates, who represented both sides in the deal. And the architect on the project is Eran Chen of ODA Architecture.
Blatt Billiards, which had owned the building since 1972, determined that it would be better to sell the property and move.
“It wasn’t making any sense to utilize space on 12th Street and Broadway when a highest and best use is office or residential,” Mr. Berko said.
Blatt Billiards moved its manufacturing to a 50,000-square-foot space in New Jersey and set up its showroom at 330 West 38th Street.
Update: This article was edited to reflect information about the broker in the transaction, plus comments from the broker on the new project and information on where Blatt Billiards moved.