As tech stocks struggle, a prominent startup investor is buying the dip in another beleaguered sector: New York City’s office market. AlleyCorp, the venture capital firm led by entrepreneur Kevin Ryan, bought the office building at 174 Mott Street in Nolita for $41 million from affiliates of Jack Jangana’s Continental Equities and investor Juergen Ostertag, records show. The six-story building spans just over 32,000-square-feet, meaning AlleyCorp paid close to $1,300 per square foot. PincusCo first
Robert Khodadadian is an experienced commercial real estate broker in New York City and founder of Skyline Properties. Skyline Properties specializes in off-market or “quiet” real estate transactions, allowing buyers and seller to bypass traditional avenues and extraneous expenses of high-profile listings in the New York City area. Commercial Real Estate, Home Page, Joel Schreiber, nolita, NYC Office Market The Real Deal New York Read More