TPG Angelo Gordon, Aurora Capital Acquiring 15 Little West 12th Street
The joint venture is buying the mixed-use retail and office building from Steven Elghanayan for $75 million, and is looking for $51.4 million in financing for the deal
By Brian Pascus October 24, 2025 10:29 am
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A joint venture between TPG Angelo Gordon and Aurora Capital Associates is seeking $51.4 million of financing to complete its $75 million purchase of 15 Little West 12th Street, a 82,000 square-foot office and retail property in Manhattan’s Meatpacking District.
TPG Angelo Gordon and Aurora Capital Associates have hired Newmark’s Jordan Roeschlaub, Jonathan Firestone and Nick Scribani to arrange the financing, while Newmark’s Adam Spies, Adam Doneger, Doug Harmon, Avery Silverstein and Willis Robbins negotiated the sale, according to an offering memorandum (OM) viewed by Commercial Observer
The sponsorship group is in the market for a five-year, floating-rate loan to fund the acquisition, cover closing costs, and finance lease-up and capital improvements, according to the OM.
TPG Angelo Gordon and Aurora Capital Associates will purchase the property from Steven Elghanayan’s Epic real estate group, a limited liability company. Elghanayan has owned 15 Little West 12th Street since he purchased it from Taconic Investment Partners for $69 million in June 2011, according to property records.
15 Little West 12th Street is a five-story building in the heart of Manhattan’s Meatpacking District, a former warehouse and industrial hub that has been converted over the last three decades into a bustling nightlife, retail and entertainment neighborhood.
Taconic and Square Mile Capital Management purchased the property in 2010 when it was still in mid-construction and led the completion of a sprawling redevelopment, bringing a new mixed-use office and retail space to the neighborhood from a derelict former warehouse.
15 Little West 12th Street was originally conceived in the 2000s by Robert Isabel, of Studio 54 fame, who purchased the building in 2006 for $7.5 million and aimed to redevelop the property into a large-scale retail, office and event space. The building had already secured preservation status from the New York City Landmarks Preservation Commission, due to its historic gray and brown brick facade and large mullion windows, according to The New York Post.
Jared Epstein, president of Aurora Capital, and Elghanayan’s Epic did not respond to requests for comment.
Brian Pascus can be reached at bpascus@commercialobserver.com
