Union Investment Sells Meatpacking District Retail Condo
The retail unit at 415 West 13th Street in Manhattan changed hands for $26.5 million.
Updated on Oct. 15, 2026 in Commercial
Live Poll
Do you believe commercial real estate sales signal a strengthening economy in your area?
Union Investment has sold its retail condo unit at 415 West 13th Street to West Gotham Re Projects Corporation for $26.5 million. The 15,000-square-foot property is located in the Meatpacking District of Manhattan.
Why it matters
The sale marks a significant turnover for the property, which Union Investment originally acquired for $18 million in 2012. The transaction highlights continued investment activity in the neighborhood's commercial real estate market.
The sold unit 1N covers 15,000 square feet and is situated within a building where MacArthur Holdings maintains a 68 percent ownership stake. The property previously secured a $47 million loan in July 2025.
The players
Union Investment
This is an international investment firm that specializes in real estate and asset management.
West Gotham Re Projects Corporation
This entity is a corporate holding company that recently purchased the retail condo.
MacArthur Holdings
This real estate firm holds a majority ownership interest in the building located at 415 West 13th Street.
AllSaints
This is a British fashion retailer that maintains a storefront in the building.
The details
Karim Josef Esch and Adam Iranyi signed the deal on behalf of the seller, Union Investment. The building also counts AllSaints as a tenant, which entered a 3,775-square-foot lease in 2023.
Timeline
Union Investment purchased the unit in 2012.
AllSaints signed a lease for 3,775 square feet in 2023.
MacArthur Holdings secured a $47 million loan in July 2025.
City records of the sale were made public in October 2026.
Culture Shift
This transaction reflects the evolving landscape of Manhattan retail real estate following post-pandemic valuation shifts. It highlights how institutional investors are repositioning assets in historically high-value districts like the Meatpacking District.
Residents and shoppers in the Meatpacking District may notice changes to the retail environment as new ownership takes over the space. The transition could lead to updates in tenant usage or storefront branding at 415 West 13th Street.
The takeaway
Real estate investors should monitor how major commercial units transition between owners in premium urban districts. Tracking sale prices provides insight into the long-term appreciation of retail assets in Manhattan.
Further reading
Learn more about the local market by browsing the New York City Commercial archives.
Source note: This article includes information reported by Commercial Observer.
Live Poll
Do you believe commercial real estate sales signal a strengthening economy in your area?
