ABS sells off Tribeca development site
By Lois Weiss | August 12, 2014 | 9:16pm
After decades of family ownership, Alan S. Cohen and Adam Maxson of ABS Partners have sold the development site at 353 and 355-357 Broadway between Leonard and Franklin streets.
The $73 million price-tag includes the air rights from No. 359, which the family is retaining. It was the family’s first building and, in 1853, the site of Civil War photographer Matthew Brady’s studio.
The pricing for the 10,965-square-foot site was $550 for each of its 132,780 buildable square feet.
With a 210-foot height limitation, the future project can still grow by roughly another 50,000 square feet and the buyers are quietly adding transferable air rights to the mix.
