Meatpacking District Retail Condo Sells for $26.5M
The 15,000-square-foot unit at 415 West 13th Street was purchased by West Gotham Re Projects Corporation.
Updated on Oct. 15, 2026 in Commercial
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Union Investment has sold a retail condo at 415 West 13th Street in the Meatpacking District for $26.5 million. The 15,000-square-foot unit, known as Unit 1N, was purchased by West Gotham Re Projects Corporation.
Why it matters
The sale marks a significant valuation increase for the retail property since it was acquired for $18 million in 2012. Tracking such commercial real estate shifts provides local homeowners and residents with a clearer view of the investment climate within the Meatpacking District.
The retail condo unit 1N spans 15,000 square feet and sold for $26.5 million, significantly higher than its $18 million purchase price in 2012. MacArthur Holdings, which holds a 68 percent share of the building, recently secured a $47 million loan for the property in July 2025.
The players
Union Investment
An international real estate investment manager that holds various commercial properties.
West Gotham Re Projects Corporation
The limited liability company that acted as the buyer for the retail unit.
MacArthur Holdings
A major stakeholder in the building at 415 West 13th Street with a 68 percent ownership share.
AllSaints
A British fashion retailer that maintains a commercial lease at the property.
The details
The transaction for Unit 1N follows a period of retail activity at the address, which includes a 3,775-square-foot lease signed by AllSaints in 2023. The property at 415 West 13th Street is a notable asset in the Manhattan Meatpacking District, where building ownership is heavily concentrated under MacArthur Holdings. Karim Josef Esch and Adam Iranyi managed the sale for the seller, Union Investment.
Timeline
2012: Union Investment bought the retail condo unit.
2023: AllSaints signed a lease for 3,775 square feet.
July 2025: MacArthur Holdings secured a $47 million loan.
October 14, 2026: The condo sale became public through city records.
The Home Front
This sale highlights the continued high-value commercial transactions occurring within the Meatpacking District’s real estate market. The transaction aligns with broader trends in Manhattan where prime retail units continue to see significant valuation changes over long-term hold periods.
Homeowners in the Meatpacking District should monitor how high-profile commercial sales influence local tax assessments and neighborhood retail variety. Prospective commercial tenants should look for updates on building management plans following the shift in unit ownership.
The takeaway
Commercial property turnover in the Meatpacking District reflects shifting investor confidence in the borough's retail core. Residents can track similar public filings through the New York City Department of Finance to stay informed on local development patterns.
Further reading
For more local developments, visit Commercial.
Source note: This article includes information reported by Commercial Observer.
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