Office Building at 540 Broadway Sells for $30M

MBf Holdings, a Malaysian investment company, has acquired a five-story office building at 540 Broadway in Manhattan’s SoHo neighborhood for $30 million through the entity Milkystar LLC, property records show. 

MBf purchased the midblock building between Prince and Spring streets from finance and insurance company Broadway Continental, according to PincusCo, which first reported the sale. The signatory for the sellers — Albert Hazout and David Hazout — was lawyer Alexander Seligson from the law firm Seligson, Rothman & Rothman.

The signatory for MBf Holdings Berhad, which oversees the company’s New York City portfolio, was Lawrence Lim, whom PincusCo lists as an owner for MBf Holdings Berhad. 

Nicholas Judson and Wendy McDonald of Judson CRE represented both the seller and buyer in this transaction.

Seligson, Rothman & Rothman has been representing the building’s former owners since 1983, Seligson told Commercial Observer via email. Lim and both Hazouts could not be reached for comment. 

Property records show the deal closed June 16, 2025, and was recorded on June 20, 2025. The property has a total buildable space of 25,000 square feet, with the sale price breaking down to $1,197 per square foot, according to PincusCo. 

540 Broadway has an alternative address of 78 Crosby Street. The building was completed in 1910, according to StreetEasy. It has space for five commercial tenants plus ground-floor retail space. 

Amanda Schiavo can be reached at aschiavo@commercialobserver.com. 

Update: This story has been updated to include the names of the brokers for this deal.