Pan Brothers Associates Picks Up NoMad Building for $8.9M


1145 Broadway (Photo: CoStar).
1145 Broadway (Photo: CoStar).

Richmond Properties LLC put its five-story 6,285-square-foot building at 1145 Broadway on the market in October 2013 for $9.35 million, as Commercial Observer reported at the time. This April 16, Pan Brothers Associates purchased it for $8.9 million, property records made public yesterday indicate.

SEE ALSO: United Overseas Bank Provides $120M Refi for Bryant Park Office Tower

The 1925 building between West 26th and West 27th Streets includes 1,500 square feet of ground-floor retail. Richmond Properties LLC bought the building for $75,000 in 1978, according to CoStar Group.

David Rizzuto, the director of management at Pan Brothers, didn’t immediately respond to a request for comment. Rita Wahba of Richmond Properties LLC confirmed her company sold the building and directed a reporter to her son, Michael Wahba of Salt Equities, who manages the building. He didn’t immediately return a call seeking comment.