NEW YORK, NY— Atlantic Capital Partners has completed the sale of 893 Broadway, a boutique mixed-use office and retail property in Manhattan’s Flatiron District, for $31 million.
Located at the corner of Broadway and East 19th Street, just steps from Union Square Park, Madison Square Park, and the historic Flatiron Building, the five-story asset offered investors the opportunity to acquire a recently renovated, fully leased property in one of New York City’s most sought-after commercial corridors.
Atlantic Capital Partners exclusively represented the seller in the transaction. The deal was led by Justin Smith, Head of Capital Markets; Chris Peterson, Executive Vice President; Sam Koonce, Vice President; and Danielle Turpin, Senior Associate.
The 25,442-square-foot building is fully occupied by a pair of prominent tenants. Luxury mattress retailer Saatva occupies the lower-level and ground-floor retail space, while Chief, the private membership network for women executives, occupies the second through fifth floors.
Chief has leased space in the building since 2019 and transformed the upper floors into its flagship clubhouse, featuring a marble library bar, private call rooms, conference facilities, lounge spaces, and two penthouse terraces overlooking the neighborhood.
“Chief has done something truly special at 893 Broadway — their flagship clubhouse is unlike anything else in the market, and it speaks to the caliber of tenant this building attracts,” said Chris Peterson, Executive Vice President at Atlantic Capital Partners. “Paired with Saatva’s luxury retail presence on Broadway, the property offers investors a rare combination of strong in-place cash flow and a best-in-class tenancy profile in one of Manhattan’s most sought-after corridors.”
The property underwent a comprehensive redevelopment in 2018 that modernized the building while preserving its historic architectural character. Improvements included the complete replacement of mechanical, HVAC, electrical, and fire detection and suppression systems, as well as restoration of the building’s cast-iron façade, storefront, historic windows, and sidewalk vault.
A centerpiece of the renovation was the addition of a newly constructed fifth-floor penthouse featuring private terraces with views overlooking Broadway and East 19th Street. The project carefully maintained the building’s Neo-Grec architectural identity while upgrading critical infrastructure to support long-term ownership and operational efficiency.
“The 2018 renovation was truly comprehensive,” said Justin Smith, Head of Capital Markets at Atlantic Capital Partners. “Prior ownership replaced every major system and restored the historic fabric of the building from the cast-iron façade down to the sidewalk vault. The result is an asset that carries all the character of a landmark Flatiron property with the infrastructure of a new building, which gives the next owner exceptional long-term visibility and minimal near-term capital needs.”
The transaction highlights continued investor demand for well-located, fully leased boutique office properties that offer a combination of stable cash flow, high-quality tenancy, and significant capital investment. With its prime Flatiron District location, historic architecture, and modernized infrastructure, 893 Broadway represents a rare asset in one of Manhattan’s most desirable mixed-use neighborhoods.
