RBS Sells 627 Greenwich Street to Criterion for $75M
By Gus Delaporte April 22, 2014 3:05 pm
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The Royal Bank of Scotland has sold 627 Greenwich Street in Greenwich Village to Criterion Real Estate Capital for $75 million, according to public records filed with the city Monday afternoon.
Chuck Rosenzweig, a managing partner Criterion Real Estate Capital, signed the purchase agreement, which is dated March 25, under an LLC, LG Acquisitions I. Steve Cho, a managing director with RBS Real Estate Finance in Chicago, signed off on the deal for the seller, listed as 627 Acquisition Company, LLC. A source familiar with the deal confirmed Criterion as the buyer.
RBS declined to comment. Mr. Rosenzweig did not immediately return a phone call and email requesting comment.
As previously reported by The Real Deal, RBS, the lender on the building, took control of 627 Greenwich Street for approximately $40 million in a foreclosure auction in 2012. The building had been eyed as a condo conversion when acquired by Peter Moore Associates and KMG Partners in 2005 but the ownership group owed $108.43 million on the property by the time of the foreclosure auction.
