Alexis Ohanian — co-founder of Reddit and husband of sporting icon Serena Williams — is turning Manhattan into his latest base.
Ohanian’s venture capital firm, Seven Seven Six, leased an entire 10,000 square foot building at 216 Lafayette Street in Soho for its flagship office and an experience center. The recently renovated building is owned by Michael and Shany Ashkenazy’s 101 Holdings and the asking rent was $2 million per year.
Lafayette Street has become a hub for technology and venture capital firms. Other companies like Andreessen Horowitz, OpenAI, Thrive Capital and Microsoft have offices in the area.
In the Garment District, a lender is seeking a receiver for 500 and 512 Seventh Avenue due to alleged self-dealing and fund diversion by the Chetrits. The lender claims about $1 million in tenant security deposits were transferred to outside accounts, including $300,000 going to Chetrit affiliates.
The Chetrit Group, headquartered at 512 Seventh Avenue, also allegedly owes over $1 million in back rent since 2023.
Investors Joseph Moinian and Edward Minskoff are also named as defendants in the case.
In Tribeca, Broad Street Development and its partner TPG Angelo Gordon are the latest companies making a play, aiming to construct a boutique luxury condo in the Lower Manhattan neighborhood.
The partners acquired a 10-story historic building at 139 Franklin Street for about $44 million, according to Broad Street’s Raymond Chalmé. The total capitalization of the property will cost about $100 million and the development will have up to 18 units
The plans to turn the building into an upscale residence dragged out because of an ugly dispute between family members who owned the building.
And finally, the Qatar Investment Authority is moving forward with plans to redevelop the Park Lane Hotel into a five-star hotel with both hotel condos and residences.
The property has a storied past, including a fraud investigation involving former co-owner Jho Low and failed development plans by Steve Witkoff. Qatar’s sovereign wealth fund bought the 46-story hotel from the Witkoff Group two years ago for nearly $623 million after development plans for the property fell apart.
The future of the existing building and the inclusion of neighboring properties, such as the medical condo building at 30 Central Park South, remain uncertain.
Read more
Reddit co-founder and Serena Williams’ husband Alexis Ohanian’s VC firm leases entire Soho building
Chetrit lender alleges “intentional self-dealing” in foreclosure case, pushes for receiver
Broad Street, TPG Angelo Gordon want to be the next Tribeca condo developer