Alchemy Ventures and Partner Close $13M Tribeca Acquisition

Alchemy Ventures and S & A Capital Group closed on the acquisition of 251 Church St., a 14,425-square-foot mixed-use Tribeca property also known as 69 Leonard St., for $12.55 million. Newmark’s Maurice Suede, Eric Roth and Brett Seigel represented both sides of the transaction.

The five-story walk-up features seven free-market rental apartments, featuring six four-bedroom units including two duplexes and one two-bedroom apartment. The property is also home to two popular Tribeca eateries: Two Hands, an all-day Australian cafe, restaurant, and bar; and Shion 69 Leonard Street, a Michelin-starred omakase-style dining experience. 

The investment is a part of Alchemy Ventures’ growing New York City portfolio. Alchemy Ventures, an affiliate of Alchemy Properties Inc., is an independently operated real estate owner-operator active in New York City and surrounding areas. S & A Capital Group, an affiliate of S & A International Holding Limited, is a family office based in Hong Kong that focuses on multifamily investments in New York City.

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