Hotel Verite in Flatiron Sells for $35 Million

March 12, 2015

NoMad District Flatiron District Flatiron hotel

Cholla LLC has bought 13 East 19th Street from Warman Enterprises for $35 million, or $2000 per square foot. The four-story, 17,500 square foot property currently houses Hotel Verite and the Korean gastropub Barn Joo.

According to GlobeSt.com, this is the first time that the building has been traded in 37 years. Adelaide Polsinelli, who represented both the buyer and the seller, credited high demand for real estate in the surrounding neighborhoods for the high selling price.

She said, “The complex transaction signals the strong and growing demand for retail and hospitality in this area where the boundaries between NoMad, the Flatiron District, and Union Square are blending.”

Polsinelli’s appraisal of the surrounding districts is supported by other high-profile sales, such as The Kaufman’s Organization sale of 27 West 24th Street for over $92 million.

As for 13 East 19th Street, Barn Joo will stay open, but Hotel Verite will close at the end of the month. There is no word yet on what will take its place.