TOWN IN THE NEWS

TOWN Commercial Announces the Successful Sale of 734 Broadway

City Biz List, June 9, 2015



New York, June 5, 2015 – TOWN Residential, New York’s leading luxury real estate services firm, is proud to announce the successful closing of 734 Broadway, a 19,000-square-foot retail and office property in NoHo. Jonathan Butwin and Scott Dweck of TOWN Commercial represented the buyer, 734 Broadway Acquisitions, LLC.

 

The five-story landmarked cast-iron building includes 6,500 square feet of usable retail space with 25 feet of frontage, and four floors of office space totaling 12,500 square feet.  The property is currently vacant and will undergo renovation.

 

734 Broadway is close to numerous subway lines including the F, S, N, R and 6, with NYU’s Gallatin, Tisch and Law Schools all close by. 

 

“With the surrounding area increasingly becoming a sought after destination for both shopping and working, the need for prime retail and office space in NoHo will only continue to grow,” said Jonathan Butwin of TOWN Commercial.

 

An accomplished industry leader with a dynamic set of skills and an extensive client base, Jonathan collaborates closely with TOWN's sales team, Andrew Heiberger and the executive leadership to meet all the commercial real estate needs of the firm's diverse client base.

 

Prior to joining TOWN Commercial, Jonathan was a leading member of the prominent investment sales and advisory services group at Robert K. Futterman & Associates. With career transactions totaling over $700 million, Jonathan was responsible for the acquisition and disposition needs of some of the country's largest and most active investors. Jonathan was instrumental in closing over $300 million in transactions in one year alone, including the two largest retail deals in the state of Florida-the disposition of 719-737, 801-821 and 830-838 Lincoln Road in Miami Beach for $139 million; and advising Vornado Realty Trust in their acquisition of 1100 Lincoln Road, a 167,000-square-foot, multi-level retail and entertainment property in Miami Beach, for $132 million. In Manhattan, Jonathan was involved in the sale of 138 Spring Street, 154 Spring Street and 63 Spring Street, three prime SoHo properties for $48.5 million, $17 million and $15 million, respectively. Other notable Manhattan transactions include the sales of several prime, new-construction retail condominiums, including 250 Bowery, 70 Greene Street and 127 Seventh Avenue.

 

Jonathan's achievements were recognized when he was included in the Commercial Observer's prestigious "30 Under 30" list of New York's most promising young commercial real estate brokers for 2013 and 2014. He received a bachelor's degree in Business Administration with a concentration in finance from the George Washington University School of Business, and is a member of the school's alumni network, the Real Estate Alliance of the Luther Rice Society.

 

A native New Yorker and lifelong Brooklyn resident, Scott Dweck has a comprehensive knowledge of the city's neighborhoods and an accomplished entrepreneurial background. Before embarking on a career in real estate, Scott owned and operated a national retail chain for 34 years. With first hand experiences of the needs and priorities his clients face, Scott is uniquely suited to successfully guide them through the intricacies of the real estate sales and rental process.

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