New York & Tri-State + Uptown/Bronx + Retail | March 21, 2023

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.

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About Paul Bubny

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).

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