Top 5 NYC Office Building Sales—May 2026
These are the five largest transactions in New York City, collected monthly by PropertyShark.
Sale Price: $121.4 million
Commercial real estate developer Yitzchok Schwartz has acquired the 555,920-square-foot creative office campus in the borough’s Clinton Hill neighborhood. RXR Realty sold the property at a 24.6 percent loss. The asset previously traded in 2016 for $161 million. JLL brokered the transaction.
Schwartz’s entity that now owns the campus leads to both YS Developers and Secured Management. The first company was established as a developer, owner and contractor in 2024, while Secured Management handles management, development and community services. G4 Capital Partners provided a $99 million loan through a consolidated note.
The vacant office complex includes 11 buildings rising eight stories. The structures were originally built in 1912 as industrial warehouses and converted into office use in 2021.
Through its YS Developers platform, the buyer plans to turn the 2.6-acre site into a large mixed-use development and has already received land use approvals. The lot has nearly 650,000 square feet of residential zoning floor area.
Sale Price: $51.4 million
Capstone Equities took ownership of the 32,282-square-foot office building in SoHo, after filing for foreclosure last year. Prime Finance provided $39.6 million in acquisition financing through a consolidated note and a $5.5 million gap mortgage.
Vornado Realty Trust and Madison Capital previously owned the property. The duo developed the building in 2019 and defaulted on a $75 million loan. Initially, the partnership put the property up for sale for about $100 million in 2024, but no sale materialized and the debt’s maturity came in September 2024, according to The Real Deal.
The only tenants at the six-story property are Citizens Bank and JBL, which uses the 5,515 square feet of retail space at the building as an audio store.
Sale Price: $39 million
Extell Development has purchased the 59,400-square-foot office building in Central Midtown from the American Jewish Committee. The seller occupied the property as its headquarters. The company planned to relocate and sell the asset as a potential office-to-residential conversion site, according to The Real Deal.
The property has been added to two portfolio notes, including a $16.8 million loan and a $246.3 million senior loan, both held by JPMorgan Chase.
The eight-story building dates back to 1958 and features 6,600 square feet of retail space.
Sale Price: $36 million
An entity affiliated with real estate investor Phillip Chong has sold the 103,047-square-foot office campus in SoHo through a deed in lieu of foreclosure. The debt on the asset is held by Shanghai Commercial Bank and is spread across multiple notes originated between 2018 and 2020.
The ownership that took over the property includes Carolwood, a Los Angeles-based private equity firm, and an entity affiliated with fashion retailer Theory, both holding a majority stake in the property. Empire Capital and a real estate investor also hold minority stakes.
Originally built in 1900, the six-story building features 1,200 square feet of residential space across two units and 15,000 square feet of retail space. The former owner operated the property as an event venue known as Canal Street Market, before closing it in late 2024, according to Crain’s New York Business.
Sale Price: $30 million
Rabsky Group has acquired the 29,000-square-foot office building in TriBeCa from The Roe Corp. Brooklyn Bridge Capital has issued a $25.4 million financing package across a consolidated note and a gap mortgage.
The Art Deco building dates back to 1936 and rises five stories. It includes 4,000 square feet of retail space spread across five commercial units. Rabsky Group plans a luxury mixed-use condominium at the site, according to The Real Deal.
—Posted on June 25, 2026
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