High-Profile Purchase of 90 Chambers Street in Tribeca

Paul Salib
Jul 27, 2017 · 1 min read

Based in New York City, Paul Salib serves as the founder and managing partner of Castellan Real Estate Partners. In May of 2017, Paul Salib helped engineer a high-profile transaction centered on the purchase of 90 Chambers Street for $10.7 million.

Arranged by Meridian Capital Group’s commercial property sales division, the transaction involved Castellan taking on an existing loan on the New York property. Fully leased, the building is described as offering strong cash flow within a Tribeca market that is rapidly expanding and in need of increased retail and residential housing.

The building features loft apartments and large residential units and is ideally positioned for condominium conversion. Situated in the vicinity of City Hall Park, the building is within walking distance of many iconic destinations in downtown Manhattan.

The property enjoys abundant foot traffic of the sort attractive to retail tenants. Other desirable attributes include an excellent school system and a burgeoning nightlife scene.

Paul Salib

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Paul Salib teaches at the Schack Institute of Real Estate as an assistant adjunct professor at New York University.

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