The brother of disgraced financier Jeffrey Epstein is looking to turn the page on a five-story office building in Hudson Square.
Mark Epstein listed the 60,000-square-foot property at 515 Greenwich Street, Crain’s reported. The listing did not come with a price, though a source told the publication it could reel in $75 million for the landlord.
The property, which also is addressed at 315 Spring Street, is fully occupied according to CoStar, largely by fashion and furniture showrooms. The real appeal of the building, however, may be its development potential, surfaced in Newmark’s marketing materials for the property.
The zoning permits a development of up to 151,000 square feet, more than double what stands on the site today. It also doesn’t have to remain a commercial property, putting a residential conversion in play.
Epstein did not return a request for comment from the publication. Newmark’s Adam Doneger is one of the brokers attached to the listing.
Epstein bought the property in 1995 for $1.8 million following a federal bankruptcy case related to the property. He later transferred ownership to Dara Partners and Ossa Properties, two firms linked to the landlord.
In 2013, an executive for Ossa emailed Jeffrey Epstein, suggesting the time was right to sell the property following a major industrial sale nearby, according to documents released by the Department of Justice. Mark Epstein ultimately did not pull the trigger on any deal at the time.
Mark maintained Jeffrey was not involved in the running of Ossa. But Jonathan Barrett, who worked at Ossa Properties, told the Wall Street Journal in 2019 through a spokesperson that Ossa and Jeffrey’s investment firm, J. Epstein & Co., were in fact affiliated.
The brothers both had ties to 301 East 66th Street, a residential condo building where Mark owns a majority of the units. Jeffrey leased units there to host visitors to his nearby mansion, but the Epstein files revealed his underage victims would stay in the building, too.— Holden Walter-Warner
Read more
These are Jeffrey Epstein’s real estate ties to his brother Mark
Documents highlight Jeffrey Epstein’s real estate rolodex
How Jeffrey Epstein secretly backed star-studded NoMad condo project
