Bobby Zar buys 836 Broadway

Bobby Zar, Director, Zar Group; 836 Broadway (LinkedIn / Bobby Zar, Village Preservation)

ZG Capital Partners from Bobby Zar has purchased a largely vacant office building at 836 Broadway.

The six-story building just south of Union Square comprises 81,000 square feet. The property once housed New York University, which has since left space.

“It’s up to them to build it,” said Skyline Properties chairman Robert Khodadadian, who has also worked on office deals in the region. “It shows their faith in the future of the office market. “

The building has a market value of nearly $ 14 million and an assessed value of $ 6 million. The valuation has steadily increased over the past decade. In 2010, it had a market value of $ 6.9 million. It is not known how much Zar paid for the property.

The building last exchanged hands in 1986, according to public records. More recently, it received a historic designation last year.

Neither Zar nor Newmark, which marketed the building, responded to requests for comment.

ZG Capital Partners acquired a 20,000 square foot mixed-use building at 654 Broadway Avenue in Noho in June for $ 10 million. In August, the company also arranged a $ 215 million commercial mortgage-backed securities loan on an office building at 1450 Broadway.

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