After Joseph Chetrit sold off the International Toy Center building at 200 Fifth Avenue, he decided to hold on to the building attached to it via footbridge?1107 Broadway?for a tad bit longer. And now that the marketing campaign for 200 Fifth has kicked off, the time is right to unload the dead weight. The Observer's Josh Koblin reports that Chetrit has sold 1107 Broadway to a business partner who plans on taking the building condo. Surprise! This of course was Chetrit's initial plan, before complications arose and he backed off. The new owner, Tessler Developments, will add an indoor/outdoor pool, gym and rooftop deck. The 180 units will sell at prices starting at $1 million, and will be marketed by the son of the head Tessler, who works at Elliman. If the footbridge remains, someone could end up having a pretty short commute between home and the office.
· 1107 Broadway Trades for $235 M.—‘Going Condo-Condo!’ [NYO]
· Toy Center Relaunch Gets Off to Clumsy Start [Curbed]
· Toy Center Sale: 1107 Broadway Still Kicking Around [Curbed]