IGI USA Announces the Acquisition of 93 Worth Street
October 03, 2011NEW YORK, N.Y. (October 3, 2011) – Izaki Group Investments USA (IGI USA) is pleased to announce that its subsidiary has closed on the acquisition of 93 Worth Street, a coveted residential asset in New York City.
IGI plans to complete a major renovation and restoration of the building at 93 Worth Street, creating a high-end condominium with CORE serving as the exclusive sales and marketing agency, and ODA-Architecture as the project architect. The 175,000-square foot building will be a modern luxury condominium with a total of 96 units, in addition to numerous lifestyle-enhancing amenities such as a 24/7 doorman, a gym, a children’s playroom, a lounge and a 3,845-square foot roof top. In addition to the residential living space, the property will offer approximately 10,000-square feet of commercial/retail space. Built in 1924, the building at 93 Worth Street historically served as one of TriBeCa’s garment factories and was used as an office building over the past five decades.
“We are delighted to close on 93 Worth Street,” states Eldad Blaustein, the CEO of IGI-USA. “This deal is indicative of IGI’s positive outlook on the New York City real estate market. Condo inventory in New York City is diminishing and pre-war buildings are scarce. We are confident that we will provide an upscale condo conversion with appealing amenities to TriBeCa, where there is a huge lack of inventory.”
Located on Worth Street, between Broadway and Church Street, the building is in a prime TriBeCa location. Savvy buyers will be able to seize upon the prospect of living in a new home as early as Spring 2013.
About IGI USA
Founded more than 60 years ago in Israel, IGI USA is a fully integrated New York City-based real estate company. While the IGI primary investments are in conversion and new residential real estate development, IGI is looking to invest in Manhattan multi-family real estate where the firm has expertise. For more information about IGI-USA please visit www.IGI-US.com.
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