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Torbati building sold, will be residential

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The 223,000-square-foot Torbati Building at 625 Broadway has been sold for an undisclosed sum that is reportedly in excess of $200-per-square-foot.

The 14-story building, which once housed Home Federal Bank, is to be converted into a residential development.

Tim Cowden of Colliers International represented the buyer, a unit of San Diego-based Hammer Ventures. The seller, a limited liability corporation controlled by Emanuel Torbati, represented itself.

The 223,000-square-foot Torbati Building at 625 Broadway has been sold for an undisclosed sum that is reportedly in excess of $200-per-square-foot.

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