RFR Buys Into Barney’s Former UWS Location After Vanbarton Hands Over Keys
By Mark Hallum March 20, 2023 2:10 pmreprints
RFR Holding is now a part owner in Barney’s former Upper West Side location, Commercial Observer has learned.
Waterfall Asset Management took ownership of 2139-2159 Broadway by way of a deed in lieu foreclosure and RFR Holding recently bought into the partnership at a valuation of $37 million, according to sources familiar with the deal.
Vanbarton Group paid $103.5 million for the property in 2016, The Real Deal reported at the time, taking on a $67.5 million loan from Mesa West Capital at the time.
The joint venture plans to modernize the retail property and sign new tenants at the storefronts between West 75th and West 76th streets. The spaces were left without permanent tenants after the departure of Barney’s New York in 2018 as well as Lululemon in 2022, according to brokerage Retail by Mona.
“This property possesses both the functionality of new construction retail while maintaining the character of an architecturally significant vintage building wrapped in an ornate limestone façade,” Aby Rosen, co-founder of RFR, said in a statement.
Vanbarton Group did not respond to requests for comment.
Retail by Mona was tapped as the leasing agent for RFR and Waterfall.
“Grocery-anchored retail locations are among the most attractive opportunities in the retail sector,” Brandon Singer, CEO of Retail by Mona, said in a statement. “RFR has the reputation, and the real-world know-how, to turn outdated retail spaces into true high street success stories.”
Mark Hallum can be reached at firstname.lastname@example.org.