EPR Properties Buys Three Commercial Condo Units at 180 Broome Street for $34M

EPR Properties, a real estate investment trust focused on experiential retail properties, has acquired three commercial condominium units that are part of the Essex Crossing mega-development on Manhattan’s Lower East Side.

EPR Properties, through the entity EPR Fitness II, purchased the units at 180 Broome Street for a total of approximately $34.1 million, according to property records made public Monday. Together, the three commercial condos span more than 52,000 square feet at 180 Broome Street, also known as the Artisan at Essex Crossing, and are home to rock climbing gym Vital.

Artisan at Essex Crossing is a 1.9 million-square-foot development that includes 263 market-rate and affordable housing units. It was developed by a partnership of BFC Partners, L+M Development Partners, Taconic Investment Partners and the Prusik Group.

In the largest component of the sale, EPR Properties bought a unit known as the “Marketline Unit” from the partnership, which used the entity Site 4 DSA Market, for $21.4 million, property records show. It’s unclear whether the unit is office or retail space, but a food hall called Market Line closed in the building in 2024. Paul Turvey, senior vice president and general counsel and secretary at EPR Properties, signed the deal for the buyer, while Andrew Zlotnick, general counsel and executive vice president at Taconic, signed for the seller.

In the smaller component of the deal, EPR Properties acquired two retail units at the building from the entity LES Essex Crossing Holdings Acquisition for $12.7 million, according to property records. Turvey signed the deal for the buyer, while Thomas Vasile and Andrew Mullin from Deutsche Bank signed the deal for the seller.

In addition to Vital, catering food and drink supplier NYBCS and mobile caterer Hashooka seem to be current commercial tenants at 180 Broome Street.

It’s unclear who brokered the deal. Spokespeople for Essex Crossing ownership and EPR Properties did not immediately respond to requests for comment.

News of the deal comes after Taconic sold off the office components of two buildings in its Essex Crossing portfolio for roughly $221.6 million in December 2024, as Commercial Observer previously reported. This office sale included 180 Broome Street for $113.7 million and 202 Broome Street for $107.9 million. They were purchased by Deutsche Bank.

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