Commercial Observer
Written by: Liam La Guerre
Midtown-based real estate investment firm Hubb NYC Properties has purchased a five-story mixed-use building at 121 Chambers Street from Ackerman Realty for $16.2 million, according to Marcus & Millichap.
The 18,750-square-foot Tribeca building between West Broadway and Church Street is comprised of 3,200 square feet of retail divided into two units on the ground floor, a 3,200-square-foot office space occupied by artists and designers on the second floor and five residential apartments on the third through fifth floors. An upholstery store with a lease expiring at the end of September is in one of the ground-floor retail units, and the other is vacant.