ASB Sells Flatiron District Office Building for $23M
The building sold for nearly half of the $44M ABS bought it for in 2015
By Isabelle Durso October 3, 2024 12:00 pm
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ASB Real Estate Investments has sold its office building in the Flatiron District for $22.8 million, nearly half of what it bought it for in 2015, according to city records made public Thursday.
ASB sold the nine-story building at 7 West 18th Street through the entity West 18th Street Venture to Tarsat Properties, whose listed signatory was Oren Barak, records show. ASB’s Brendan Reed signed for the seller.
A spokesperson for ASB did not immediately respond to a request for comment, while a spokesperson for Tarsat could not be reached for comment. George Comfort & Sons’ Matthew Coudert and Alexander Bermingham, who are listed as contacts for the property, also did not respond.
George Comfort & Sons teamed up with ASB in 2015 to acquire the roughly 49,000-square-foot building between Fifth Avenue and Avenue of the Americas from Scandia Realty for about $44 million, The Real Deal reported.
ASB and George Comfort & Sons have worked together in the past, buying a six-story Chinatown building for $62 million in 2013 and a 12-story office property in Chelsea for about $83 million in 2014, according to TRD.
The companies’ 7 West 18th Street was built in 1900 and renovated into updated office space in 2018, according to George Comfort & Sons’ website.
Previous tenants of the Flatiron District office building include Copenhagen-based jewelry and homeware retailer Georg Jensen and marketing and events planner Pop2Life, as Commercial Observer previously reported.
Isabelle Durso can be reached at idurso@commercialobserver.com.
