Boutique NoLita Office Building Trades for $41M

Venture capital firm AlleyCorp has purchased the 6-story, 32,000-square-foot building at 174 Mott Street. Located between Broome and Kenmare Streets, the sale by Continental Equities and investor Juergen Ostertag attracted a price of $41 million, or $1,281 per square foot. Currently vacant, according to marketing material offering the building for sale or lease, was acquired by Continental Equities in 2006 for $8.9 million and Ostertag acquired a 25% stake in 2016 for $11 million.