An undisclosed buyer has paid $9.35 million to purchase the landmarked American Bank Note Company Building at 70 Broad Street in Manhattan\u2019s Financial District, Commercial Observer has learned.<\/p>\n
It\u2019s a steep discount from both the $88 million the five-story property originally hit the market<\/a> for in 2016 and the $20 million former lender Wilmington Trust<\/a> paid for it<\/a> in an auction last year.<\/p>\n SEE ALSO: Miami Design District Owner Revives Office Project With BH3<\/a><\/p>\n The buyer\u00a0was represented by Louis Franco and Joseph Isa of Isa Realty Group<\/a> along with attorney Eric S. Schoenfeld of Tannenbaum Helpern<\/a>.<\/p>\n The buyer plans to reposition the 19,478 square-foot 70 Broad Street, which sits between Beaver and Marketfield streets and was once home to a bank note maker. Their exact plans for the long-vacant property are unclear, but the first, second and lower levels have commercial spaces. A private elevator leads to three full-floor residential units on the third through fifth floors.<\/p>\n The Neoclassical property was designed in the early 1900s by Kirby, Petit & Green to be the American Bank Note Company\u2019s administrative and sales offices. It has two long, formidable columns, as commonly used by financial institutions, as well as a carved eagle over its doorway. The company produced currency, stock certificates and other materials that require engraved printing.<\/p>\n The building sold to the Bank of Tokyo in 1988 and was later purchased by fast-food franchisers Murray and Irving Riese for $3.5 million. Tony Goldman, later the creator of Wynwood in Miami, bought the property in 1995 for $1.3 million for a restaurant and his offices.<\/p>\n