The brother of disgraced financier Jeffrey Epstein is seeking to flip the web page on a five-story workplace constructing in Hudson Sq..
Mark Epstein listed the 60,000-square-foot property at 515 Greenwich Road, Crain’s reported. The itemizing didn’t include a worth, although a supply instructed the publication it might reel in $75 million for the owner.
The property, which is also addressed at 315 Spring Road, is absolutely occupied in response to CoStar, largely by style and furnishings showrooms. The true enchantment of the constructing, nevertheless, could also be its improvement potential, surfaced in Newmark’s advertising supplies for the property.
The zoning permits a improvement of as much as 151,000 sq. toes, greater than double what stands on the positioning at this time. It additionally doesn’t have to stay a business property, placing a residential conversion in play.
Epstein didn’t return a request for remark from the publication. Newmark’s Adam Doneger is likely one of the brokers connected to the itemizing.
Epstein purchased the property in 1995 for $1.8 million following a federal chapter case associated to the property. He later transferred possession to Dara Companions and Ossa Properties, two corporations linked to the owner.
In 2013, an government for Ossa emailed Jeffrey Epstein, suggesting the time was proper to promote the property following a significant industrial sale close by, in response to paperwork launched by the Division of Justice. Mark Epstein finally didn’t pull the set off on any deal on the time.
Mark maintained Jeffrey was not concerned within the working of Ossa. However Jonathan Barrett, who labored at Ossa Properties, instructed the Wall Road Journal in 2019 by a spokesperson that Ossa and Jeffrey’s funding agency, J. Epstein & Co., have been actually affiliated.
The brothers each had ties to 301 East 66th Road, a residential apartment constructing the place Mark owns a majority of the models. Jeffrey leased models there to host guests to his close by mansion, however the Epstein information revealed his underage victims would keep within the constructing, too.— Holden Walter-Warner
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