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Acquisitions

Tokyo Trust buys 434 Broadway

434 Broadway (Credit: Champion)

Minoru Machida’s Tokyo Trust and MC Real Estate Partners have acquired 434 Broadway in Soho from Savanna for $103.5 million. The nine-story office and retail building spans 61,500 square feet. 

  • Tenant rosterChampion, a HanesBrands division, occupies the retail component, which consists of 4,903 square feet on the ground-floor and 2,218 square feet on the lower level. Venture firm General Catalyst Partners, digital marketing agency UENO, and real estate developer RAL Cos occupy the office space.
  • Flashback: Savanna paid $62 million for the property in 2013. The firm has invested around $7 million in building improvements and renovations since then, REW noted.
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