Investment Property Realty Group Closes $9.4M Sale of Tribeca Mixed-Use Building at 73 Warren Street

NEW YORK — Investment Property Realty Group has closed the $9,400,000 sale of 73 Warren Street, a mixed-use loft building in Manhattan's Tribeca neighborhood, the firm announced July 29, 2026. Lockhill Properties acquired the 10,500-square-foot property from The Berger Family, with Investment Property Realty Group representing both sides of the transaction.

Deal Details: Trophy Loft Building Changes Hands in Tribeca

The transaction was negotiated by Adam Lobel, Zack Ziskin, Justin Zeitchik, and Christian Ingenito of Investment Property Realty Group. The property consists of five full-floor residential lofts above ground-floor commercial space currently occupied by Ol'Days Farms to Table.

At $9,400,000 for 10,500 square feet, the deal implies pricing of approximately $895 per square foot — consistent with recent Tribeca mixed-use trades, where well-located loft buildings have generally transacted in the $800 to $1,200 per square foot range depending on tenancy, condition, and floor plate quality. On a per-unit basis, the five residential lofts imply a price of roughly $1,880,000 per unit.

The property sits within the Tribeca West Historic District on Warren Street between Greenwich Street and West Broadway, a block characterized by four- to seven-story historic loft buildings with ground-floor retail and upper-floor residential space. Many Warren Street loft buildings date from the late 1800s to early 1900s, with various modern conversions and interior renovations. The property is described in the announcement as a "trophy loft-style" mixed-use building.

Lockhill Properties Plans Residential Renovation

Lockhill Properties intends to renovate the residential portion of the building as part of its growing Manhattan portfolio. The ground-floor retail space remains occupied by Ol'Days Farms to Table, providing stabilized street-level income at closing. The planned residential repositioning reflects a value-add investment strategy common in prime Tribeca loft product, where investors underwrite rent upside on renovated units alongside the durability of ground-floor food-and-beverage demand.

Tribeca is among Manhattan's most supply-constrained residential neighborhoods, with most inventory derived from rehabbed loft buildings rather than ground-up development. High construction costs, limited debt availability, and labor shortages have curbed new building activity, supporting pricing for existing quality stock in the submarket.

IPRG's Third Tribeca Transaction in a Year

The sale marks Investment Property Realty Group's third completed transaction in Tribeca over the past year. Founded in 2016, Investment Property Realty Group is a broker-owned commercial real estate brokerage specializing in investment sales, retail leasing, and property management across New York City and New Jersey. The firm has completed more than $4 billion in commercial real estate transactions since its founding.

The closing comes as U.S. commercial real estate investment activity is projected to rebound in 2026, with improving capital markets and stabilizing debt pricing drawing investors back to well-located, smaller-scale assets in core submarkets. For long-term holders such as family owners, the more constructive market environment has created conditions to crystallize gains or rebalance portfolios.

Market Context: Manhattan Mixed-Use Fundamentals

Manhattan mixed-use and boutique multifamily assets in prime submarkets have generally traded at 4 to 5 percent cap rates for stabilized, high-quality properties in 2025 and 2026, with value-add loft conversions often closing at lower in-place yields but higher pro forma returns once renovated. A cap rate and net operating income for 73 Warren Street were not disclosed.

Retail fundamentals have remained steady to strong in high-foot-traffic urban locations, with food-and-beverage tenants continuing to anchor ground-floor space in prime neighborhoods. In supply-constrained markets like Tribeca, vacancy in stabilized mixed-use buildings more often reflects planned repositioning than weak demand.

Investment Property Realty Group focuses on the sale of multifamily properties, mixed-use buildings, development sites, retail assets, and other commercial investment properties across the New York metropolitan area. More information is available at www.iprg.com.

Sources: Investment Property Realty Group — Deal Story: 73 Warren Street