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Artifact Real Estate buys Little Italy office building for $28M
The six-story property at 165 Grand Street, built around 1847, is protected as a landmark under the city’s preservation commission.
Artifact Real Estate Development has purchased 165 Grand Street in Little Italy for $28 million, according to a deed filing reviewed by Commercial Observer.
The seller was Bijan Nassi of Bijan Royal, the outlet said, and Nassi had acquired the building in 1997 under an alternative address, 224 Centre Street. The outlet also noted that it is unclear whether the sale is connected to a foreclosure action after Nassi defaulted on an $11.4 million loan in June 2025.
Commercial Observer added that the transaction’s details, including who brokered the deal, were not immediately clear, and it was unable to reach Nassi for comment while Artifact did not respond right away.
The outlet said the six-story building between Centre and Baxter streets has distinctive Italianate architecture and was built around 1847. It served as the former headquarters of the Independent Order of Odd Fellows in the 1880s and received protected landmark status from New York City’s Landmarks Preservation Commission in 1982.