Union Investment Sells Meatpacking District Retail Condo for $27M
By Isabelle Durso October 15, 2026 4:23 pm
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A high-profile retail space in Manhattan’s Meatpacking District has traded.
Union Investment Real Estate, a Germany-based real estate investment manager, sold a retail condo unit at the base of the mixed-use 415 West 13th Street for $26.5 million, according to city records made public Wednesday.
The buyer of Unit 1N was the LLC West Gotham Re Projects Corporation, with Nicolo Forni as a signatory. Further details about the buyer and Forni were unclear, as the address tied to the LLC was a law firm.
Union Investment bought the condo for $18 million in 2012, records show. Karim Josef Esch, head of real estate management at Union Investment, and Adam Iranyi, head of investment management at Union, signed the new deal for the seller.
It’s unclear what tenant, if any, currently occupies the roughly 15,000-square-foot Unit 1N at the building between Ninth Avenue and Washington Street. Current retail tenants at the property include hair salon Bumble and Bumble, art gallery Affirmation Arts and fitness club WndrHLTH Club. Office tenants in the upper floors include Estee Lauder and aviation supplier FTAI.
AllSaints signed a lease for 3,775 square feet there in 2023, but seems to have since closed.
A spokesperson for Union Investment declined to comment on the buyer’s identity. A spokesperson for Ripco Real Estate, which has worked on past deals at the building, did not immediately respond to a request for comment.
In July 2025, MacArthur Holdings, which owns roughly 68 percent of the building, landed a $47 million loan to refinance its respective retail and office condos at the property, as Commercial Observer previously reported. MacArthur owns units 1S and 3S, which span a total of 62,707 square feet.
Isabelle Durso can be reached at idurso@commercialobserver.com.
