Mixed-Use Sells for $12M

An undisclosed investor paid $11.5 million for a 10,500-square-foot building in Manhattan’s Tribeca neighborhood. The sale works out to a price of $1,095 per square feet

“We received a lot of interest in 106 Franklin St. from a range of investors and developers, given the scarcity of vacant buildings in Tribeca,” said Will Suarez, senior director for Cushman & Wakefield, which represented the seller.

The five-story building benefits from approximately 4,200 square feet of additional air rights, and was delivered partially vacant.

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