New York City-based Vista Property Group has acquired two properties in the Fulton Market District, reportedly with plans to develop on the site of one of them. Greenstone Partners’ Danny Spitz represented Vista in its acquisition of 400 & 401 N Morgan in an off‐market transaction.
401 N Morgan is anchored by event space Morgan Manufacturing, along with the corporate offices of The Alinea Group, Tock, Listen Ventures and Nansen.
The property at 400 N Morgan was most recently the office for T-shirt company Threadless. Currently vacant, the 7,000-square-foot building sits on 17,000 square feet of land.
“In Fulton Market, there is a very limited supply of large cash‐ flowing investments that provide redevelopment upside.” said Spitz. “Land sites and obsolete buildings in Fulton Market have been the primary source of opportunities in recent years.”
The seller, MAB Capital Management LLC, was represented by Acorn Property Management, LLC.
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces.
Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.
Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).