TPG Angelo Gordon Sells Upper West Side’s 2250 Broadway for $33M

TPG Angelo Gordon has offloaded the retail portion of an Upper West Side building for $32.5 million, according to city records made public Tuesday.

TPG, through the entity AG-Premier 2250 Broadway Owner, has sold the retail portion of 2250 Broadway to Westside 2250 Broadway, an entity linked to family-owned grocery chain Westside Market NYC, records show.

TPG’s Doug Profenius signed the deal for the seller, while Westside Market founder John Zoitas signed for the buyer, according to records.

It’s unclear who brokered the deal. Spokespeople for TPG and Westside did not immediately respond to requests for comment.

The deal represents a $5.5 million profit for TPG, after Angelo Gordon bought the property at the corner of Broadway and West 81st Street in October 2022 for $27 million, Crain’s New York Business reported.

Angelo Gordon became TPG Angelo Gordon in November 2023 when TPG acquired the firm to “expand [its] capabilities and create highly compelling investment opportunities,” TPG CEO Jon Winkelried said in a statement at the time.

When Angelo Gordon acquired 2250 Broadway in 2022, office supply store Staples occupied the building’s three-floor, 35,000-square-foot retail space, Crain’s reported. Staples is still open in the location, and a recently remodeled  Starbucks is in the corner portion of the retail space.

However, it is possible Westside Market will take over the space for a new grocery store as part of its acquisition. The site at 2250 Broadway sits directly across the street from gourmet grocery Zabar’s.

Westside Market has seven locations throughout Manhattan, including two on the Upper West Side at 2840 Broadway and 2589 Broadway, according to its website. A former Westside Market location on Broadway between West 76th and West 77th streets closed in 2017.

Behind the retail portion of 2250 Broadway sits a 22-story residential condominium tower called the Broadway, which comprises 123 units selling for up to $2.2 million each, according to the building’s website.

Isabelle Durso can be reached at idurso@commercialobserver.com.