Owners & management · 10/15/2026
Union Investment Sells Meatpacking Retail Condo for $26.5 Million
Germany-based Union Investment Real Estate sold Unit 1N, a retail condo at the base of 415 West 13th Street, for $26.5 million, according to city records. It bought the space for $18 million in 2012. The buyer is an LLC tied to a law firm address, and it is unclear what tenant, if any, now occupies the roughly 15,000-square-foot unit.
Reported by Commercial ObserverRead the original ↗
What happened
A retail condo unit in Manhattan's Meatpacking District has sold for $26.5 million, Commercial Observer reported. The headline rounds the price to $27 million. The unit is Unit 1N at the base of 415 West 13th Street, a mixed-use building between Ninth Avenue and Washington Street. The sale showed up in city records made public Wednesday.
The seller was Union Investment Real Estate, a Germany-based real estate investment manager. It bought the condo for $18 million in 2012, according to records. Karim Josef Esch, head of real estate management, and Adam Iranyi, head of investment management, signed for the seller. The buyer was an LLC, West Gotham Re Projects Corporation, with Nicolo Forni as signatory. Little else is known about the buyer because the address tied to the LLC is a law firm. A Union Investment spokesperson declined to comment on the buyer's identity.
Unit 1N is roughly 15,000 square feet. It is unclear what tenant, if any, now occupies it. Current retail tenants in the building include Bumble and Bumble, Affirmation Arts and WndrHLTH Club. Estee Lauder and FTAI have offices on upper floors. AllSaints signed a 3,775-square-foot lease there in 2023 but appears to have closed. MacArthur Holdings owns roughly 68 percent of the building, including units 1S and 3S, which total 62,707 square feet. In July 2025, MacArthur landed a $47 million loan to refinance its retail and office condos there.
Key facts
- Address
- 415 West 13th Street, Unit 1N, Manhattan
- Sale price
- $26.5 million
- Prior price
- $18 million in 2012
- Size
- Roughly 15,000 square feet
- Seller
- Union Investment Real Estate
- Buyer
- West Gotham Re Projects Corporation (LLC), signatory Nicolo Forni
- Majority owner of building
- MacArthur Holdings, roughly 68 percent
- Source
- Commercial Observer, citing city records
What it means
Buyers and owners
The seller sold for $8.5 million more than its 2012 purchase price, a data point on Manhattan retail condo values. The buyer used an LLC whose address is a law firm, so its identity is not public.
Landlords
This is a commercial deal in a Manhattan office and retail building. It does not change rules or costs for small residential landlords.
Tenants and voucher holders
The reporting mentions no apartments in this building. The sale does not directly affect residential tenants or voucher holders.
The highlights
- Union Investment paid $18 million for the unit in 2012, records show.
- Unit 1N at 415 West 13th Street spans roughly 15,000 square feet.
- Buyer is West Gotham Re Projects Corporation, with Nicolo Forni as signatory.
Why it matters Landlords
A Manhattan retail condo sold for well above its 2012 price, a data point for owners tracking commercial values. It has no direct effect on rentals or vouchers.
Not known yet
- Who is behind the buying LLC
- Whether Unit 1N has a tenant now
- What the buyer plans to do with the space
- Whether a broker was involved in the sale
Background
In New York City, deeds and other property transfer records are filed with the city and become public, which is how sale prices and signatories are usually reported. Buyers often use LLCs, which can make the true owner hard to identify. In condo buildings, separate units such as ground-floor retail and upper-floor offices can be owned and sold by different parties.
Summary written by Bulwark from Commercial Observer’s reporting. The original story is at commercialobserver.com. This is general information, not legal advice.
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Photo: Andre Carrotflower, CC BY-SA 4.0