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first_imgMessage* Full Name* Share on FacebookShare on TwitterShare on LinkedinShare via Email Share via Shortlink Share via Shortlink From left: 860 Washington Street, Masayoshi Son and Elon Musk (Photos via Getty; James Carpenter Design Associates)A glassy building in the Meatpacking District that’s home to some of 2020’s hottest companies is now valued at $80 million after the partners who developed it completed a sale-leaseback deal.Romanoff Equities bought the 10-story building at 860 Washington Street from co-developer Property Group Partners, records filed with the city Thursday show. The purchase price works out to about $700 per square foot.At the same time, Romanoff leased the asset back to Property Group Partners for a term of 99 years.Representatives from Romanoff and Property Group Partners could not be immediately reached for comment. A Cushman & Wakefield team of Adam Spies, Doug Harmon, Kevin Donner and Marcella Fasulo brokered the sale between PGP and Romanoff.ADVERTISEMENTBuilt in 2016, 860 Washington Street was among a handful of small, boutique commercial buildings that helped transform the Meatpacking District into a highly desirable office neighborhood. These properties commanded triple-figure rents that are rarely seen in areas of Manhattan outside the most prime stretches of Midtown Manhattan.Tenants include Tesla, which has a ground-floor showroom, and which has seen its stock price explode in 2020. Its stock closed above $620 per share this week, more than seven times what it was trading for at the beginning of the year.The Softbank-backed online lender SoFi, which is reportedly considering a public listing amid this year’s white-hot IPO market, is also a tenant in the building alongside other companies including Alibaba and Delos Living.Romanoff Equities, headed by Michael Romanoff, owns a number of properties in the Meatpacking District, and teamed up with Jeffrey Sussman’s Property Group Partners in 2013 to develop the building.Contact Rich Bockmann Email Address* TagsCommercial Real Estatemeatpacking districtReal Estate Financingromanoff equitieslast_img read more

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