RFR Joint Venture Acquires Retail Portion of Upper West Side Condos
RFR and Waterfall Asset Management acquired the 33,000-square-foot retail condominium portion of The Astor condominium building at 2139 – 2159 Broadway on New York’s Upper West Side in a joint venture. Situated along Broadway between 72nd and 79th streets, the landmarked building and its retail component provide ample opportunity for RFR to add value.
“We are very excited to add The Astor to our best-in-class retail portfolio across the major retail submarkets in New York City,” said RFR cofounder Aby Rosen. “This property possesses both the functionality of new construction retail while maintaining the character of an architecturally significant vintage building wrapped in an ornate limestone façade.”
Waterfall Asset Management took ownership of the property via a deed in lieu of foreclosure and RFR bought into the partnership. RFR will leverage its partnership with retail leasing brokerage and advisory firm Retail by MONA to market and lease the available retail spaces.