Klosed Properties, Namdar Realty Buy Meatpacking Retail Building for $24M
By Isabelle Durso February 9, 2026 5:41 pm
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A fully leased retail building in Manhattan’s Meatpacking District has traded for $23.5 million.
A joint venture between Klosed Properties and Namdar Realty Group acquired the three-story retail property at 446 West 14th Street from Maverick Real Estate Partners, which used the entity Meatpacking Retail LLC, broker Avison Young announced Monday.
The 22,285-square-foot building is fully leased to Puttery, an upscale mini golf bar concept, according to the brokerage. Puttery’s space at the property includes a kitchen, two themed miniature golf courses, and four full-service bars. The tenant has about eight years remaining on its lease.
“In a market where quality retail is increasingly hard to find, this property stands out as a stabilized, best-in-class asset with strong demand fundamentals and long-term value,” Avison Young’s James Nelson, who brokered the deal for the seller, said in a statement. “The fully built-out lower level and year-round rooftop bar and event space maximizes functionality and revenue potential, offering investors a rare combination of long-term income security, high-profile tenancy and institutional-quality real estate.”
Avison Young’s Nelson, Brent Glodowski, Mitchell Levine and Noah Kossoff represented the seller. Steven Kashanian, managing director at Klosed Properties, and Igal Namdar, CEO of Namdar Realty, arranged the deal on behalf of the JV.
In November 2024, Maverick Real Estate bought the retail building between Washington Street and 10th Avenue, which had a $27 million judgment after previous owner Thor Equities defaulted on a loan and faced a foreclosure action in 2023, PincusCo reported.
New owners Klosed Properties and Namdar Realty “plan to hold the asset long term, citing the strength of the location, the quality of tenancy and the enduring appeal of the neighborhood,” according to a release from the buyers.
“This acquisition aligns with our long-term investment strategy of targeting well-located retail assets with durable cash flow in premier Manhattan neighborhoods,” Kashanian said in a statement. “The Meatpacking District continues to demonstrate strong fundamentals, and we see sustained value in assets that combine location, tenancy and long-term upside.”
Isabelle Durso can be reached at idurso@commercialobserver.com.
