Perhaps the owner was referencing a building across Broadway at the northern end of the block, The Mandarin Plaza, built in 1990 at 374-378 Broadway (corner of White Street -- also just outside the historic district). It's a condo: Trulia has some recent info. NY Times has more.
City Realty describes it best:
... minimalist, red-brick tower that is ungainly and has no contextual concerns and no architectural frills, a typical New York post-war "luxury" residential tower building that looks bad compared to most public housing.
Building cheap and ugly can pay off in NYC.