West Village Building Swapping Hands In Rare $100M Deal: Report

WEST VILLAGE, NY — Eight zeros is a staggering number, but a West Village building is about to change owners for $100,000,000, according to reports.

Midwood Investment & Development is in contract to purchase 56 Seventh Avenue from BlackRock — the world's largest asset manager in the investment banking sphere.

First reported by The Real Deal, the 160-unit West Village building that houses Birch Coffee and Elm Health will close in May.

"Big buildings don't often change hands in the highly desirable West Village," Rich Bockmann from The Real Deal writes.

The new expected owner of the building, Midwood Investment & Development, describes itself at "the intersection of architecture, urbanism, technology, and data, Midwood’s mission is to acquire, develop, and manage best-in-class mixed-use commercial and residential properties that improve neighborhoods and enrich lives," according to its website.

The West Village building at 56 Seventh Avenue was built in 1931.

BlackRock bought the building in 2008, but the price was never disclosed, so it's unclear how much the company made or lost on the property.

You can read the full story on The Real Deal's website.