Cannon Hill Buys Flatiron District Building From Colliers for $38M
By Isabelle Durso February 25, 2025 5:23 pm
reprints
Cannon Hill Capital Partners has purchased a mixed-use building in the Flatiron District for $38 million, according to city records made public Tuesday.
Cannon Hill, through the entity 880 Broadway Tenant, bought the property at 33 East 18th Street — which extends through to 38 East 19th Street — from Colliers (CIGI), which used the entity 33 Realty Associates, records show.
Eric Rubin, a founder and chief investment officer at Cannon Hill, signed for the buyer, while Colliers’ William Stempel signed for the seller, according to records.
It’s unclear who brokered the deal. Spokespeople for Cannon Hill, Colliers and CBRE — which handles office leasing at 38 East 19th Street — did not immediately respond to requests for comment.
The property between Park Avenue South and Fifth Avenue seems to comprise both residential units at 33 East 18th Street and office space at 38 East 19th Street, which is entirely net leased to ABC Carpet & Home and is also home to chef Jean-Georges Vongerichten’s restaurant ABC Cocina.
It’s unclear what Cannon Hill’s exact plans are for the site, but the developer closed on a $200 million recapitalization of its building next door at 888 Broadway earlier this month, as Commercial Observer previously reported.
The property is connected to the two-building, 220,000-square-foot 888 Broadway, where Colliers was appointed leasing agent for the office property that Netflix anchors, CO reported.
Isabelle Durso can be reached at idurso@commercialobserver.com.
