Historic FiDi building sells for paltry $9.4M

Another chapter was written in the sordid tale of a historic Financial District building, lost to a lender and sold for crumbs. An undisclosed buyer picked up 70 Broad Street for $9.35 million, the Commercial Observer reported. That breaks the deal for the 19,000-square-foot property down to roughly $492 per square foot. The seller of the landmarked American Bank Note Company Building was Wilmington Trust, the former lender at the property. The trustee for the commercial mortgage backed-securities trust took control of the property last year through a $20 million credit bid. A Cushman & Wakefield team including Dylan Walsh, […]

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