A prominent retail property in Manhattan's Meatpacking District has changed hands. Union Investment Real Estate, a German property investment manager, divested a retail condominium on the ground floor of the mixed-use building at 415 West 13th Street for US$26.5 million, according to city records released on Wednesday.
The purchaser of unit 1N was West Gotham Re Projects Corporation LLC, with Nicolo Forni as the signatory. Further details regarding the buyer and Mr Forni remained unclear, as the address associated with the LLC is a law office. Union Investment had acquired the condominium in 2012 for US$18 million, as per the records.
Details of the transaction and property
Karim Josef Esch, Head of Property Management at Union Investment, and Adam Iranyi, Head of Investment Management at Union, signed the new agreement on behalf of the seller. It is currently unknown which tenant – if any – occupies the approximately 15,000 square feet (approx. 1,393 square metres) unit 1N in the building located between Ninth Avenue and Washington Street.
A spokesperson for Union Investment declined to comment on the buyer's identity. A spokesperson for Ripco Real Estate, who were involved in previous deals in this building, also did not immediately respond to a request for comment.
Tenant structure and further ownership details
Current retail tenants in the property include the hair salon Bumble and Bumble, the art gallery Affirmation Arts, and the fitness club WndrHLTH Club. Office tenants on the upper floors include Estee Lauder and aerospace supplier FTAI. AllSaints signed a lease for 3,775 square feet (approx. 351 square metres) in the property in 2023, but appears to have since closed.
- —Building name: 415 West 13th Street
- —Transaction volume: US$26.5 million
- —Seller: Union Investment Real Estate
- —Buyer: West Gotham Re Projects Corporation LLC
In July 2025, MacArthur Holdings, which owns approximately 68 percent of the building, secured a US$47 million loan to refinance its respective retail and office condominiums in the property, as Commercial Observer previously reported. MacArthur owns units 1S and 3S, which span a total of 62,707 square feet (approx. 5,826 square metres).
