Premier Equities Buys 1220 Broadway in Koreatown for $32M

Michael Haddad’s New Generation Realty made a solid return on a nine-story, mixed-use building in Manhattan’s Koreatown neighborhood.

After buying the property at 1220 Broadway in 2006 for $26 million, New Generation has sold it to real estate investment and management firm Premier Equities for $31.6 million, according to property records made public Monday.

The office and retail building on the corner of Broadway and West 30th Street is tenanted by small businesses specializing in clothing and jewelry.

Premier Equities, founded in 2009 by Yaron Jacobi and Uzi Ben Abraham, did not immediately respond to a request to comment. Haddad could not be reached for comment.

Haddad and Premier Equities both keep a low profile, but the latter has been active in the hotel market with the 2021 purchase of the 43-room Duane Street Hotel at 130 Duane Street in Tribeca for $18 million, as Commercial Observer reported at the time.

Premier also sold the leasehold for a retail condo at 644 Greenwich Street for $10.2 million to two individuals, Pamela and Cary Roth, in 2020.

More recently, Premier Equities bought a retail building at 3909-3911 Main Street in Flushing, Queens, for $27 million in February 2025, and it purchased the retail condo at 200 East 59th Street in Midtown East for $31.3 million in April.

The majority of Premier Equities’ 50 some-odd building portfolio is in Lower Manhattan markets such as SoHo, the West Village and Chelsea with the occasional Uptown outlier.

Mark Hallum can be reached at mhallum@commercialobserver.com.