David I. Berley-Led Investment Group Picks Up NoMad Office Building for $14.5M
Lauren Elkies Schram Dec. 1, 2016, 6:55 p.m.
An investment group led by Walter & Samuels Chairman David I. Berley today closed on the $14.5 million off-market purchase of a boutique office building in NoMad, which is home to Bella Napoli pizzeria, Commercial Observer has learned. The seller was a private family from Europe, according to a spokeswoman for Walter & Samuels.
The 1903 six-story office building at 130 Madison Avenue between East 30th and East 31st Streets is comprised of 15,300 square feet and has 13,200 square feet of air rights. Office tenants include Collective and Cross Commerce Media.
“We plan on leasing and holding it for generations to come, just as we do with all of our buildings,” said Walter & Samuels’ Peter Weiss via a spokeswoman. “We have had continuous ownership of much of our 50-property portfolio for 40 or more years.“
There were no brokers in the deal.
“This building in NoMad is very special,” Berley said in prepared remarks. “NoMad has seen substantial development activity that we anticipate will continue for many years. We are excited about the opportunities this building presents in one of Manhattan’s most active neighborhoods for new development.”