The vacant retail shops connected to the Hotel Indigo have been sold for $25.25 million. According to records filed with the city’s finance department, Cohen Equities unloaded the commercial condominium at 180 Orchard St. in a July 11 transaction. The new owner is an entity called “First York Orchard Retail, Inc.,” with a mailing address at Midboro Management.
In Feb. of 2014, it was reported by the Real Deal that the 10,400 square foot retail space and a parking garage were purchased by Cohen Equities and Premier Equities for $21 million. At the time, brokers at Cushman & Wakefield said restaurants and big name clothing retailers had expressed interest in the spaces. But the owners held out for top dollar, and no long-term leases came through.
JLL is now marketing the commercial property, which is currently broken up into four storefronts.