Little Italy Office Building Sells for $22M
By Larry Getlen July 25, 2025 2:17 pm
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An office and retail building in Little Italy has changed ownership after more than 70 years with the same family.
The 46,620-square-foot building at 41 Elizabeth Street sold for $21.82 million. Alex Woodlief and Paul Massey at B6 Real Estate Advisors represented the seller, Eldad Realty, and procured the buyer, Grand Elizabeth.
The buyer may continue operating the seven-story building as office and retail, but is also considering a possible residential conversion down the line, according to Woodlief. Eldad converted the building from a sewing factory to its current status as an office and retail building over 20 years ago, Woodlief said.
“41 Elizabeth Street offered potential buyers the opportunity to acquire a meticulously cared-for office building in the heart of Downtown Manhattan,” Woodlief, senior director at B6, said in a statement. “This sale to a local operator supports the narrative that local private capital continues to be a significant driver of office transactions in the city, and is the third office sale B6 has facilitated to private capital buyers in the last 12 months.”
Current tenants at the building include the Asian restaurant XO Taste, the art gallery Martos Gallery and dentist Dr. Darryl Wu.
Larry Getlen can be reached at lgetlen@commercialobserver.com.
