Gourmet Home Products, a leading manufacturer of housewares, has recently acquired a prime location at 148 Madison Avenue in Midtown. The property was purchased by the company’s co-founder, Jack Saadeh, for $31.3 million from Steven Klein.
The 16-story office building will serve as both office and showroom space for Gourmet Home Products. To finance the purchase, Saadeh secured a $19 million loan from Interaudi Bank. This successful transaction was facilitated by Venture Capital Properties’ Soly Halabi and Joshua Nazar.
Klein’s firm had previously acquired the building in 2001 along with another property at 152 Madison Avenue. The deal officially closed on June 7th.
This significant acquisition marks an exciting new chapter for Gourmet Home Products as they continue to expand their presence in the market.
