Top 5 NYC Office Building Sales—December 2023
PropertyShark collected the city’s top deals for the sector.
Sale Price: $56,226,159
Locally based Savanna transferred ownership of the office building totaling 112,500 square feet in East Harlem also known as The Lee Building to TPG. The previous owner took out a $54 million refinance on the 12-story high-rise financed by the lender in early 2019. The 1901-built property last traded in late 2015 for $48 million, at the time of the sale TPG also provided a $45 million acquisition loan for Savanna.
Sale Price: $38,000,000
Geshary, a Japanese coffee company, acquired the five-story building totaling 13,580 square feet in Central Midtown. CBRE represented the buyer and Colliers worked on behalf of the seller, Riese Organization. Built in 1907, the low-rise encompasses 7,623 square feet of office space and 5,957 square feet of retail space across five commercial units.
Sale Price: $38,000,000
JCS Realty Group acquired the 76,928-square-foot office building in Boerum Hill through a transaction arranged by a JLL Capital Markets. The new owner plans to demolish the existing low-rise completed in 1924 and replace it with a 159-unit residential building. The planned project details an eight-story building with a ground-floor commercial space along with 41 parking spaces.
Sale Price: $7,675,000
First Imperial Finance facilitated the sale of the 7,700-square-foot office building in TriBeCa with a $1.2 million acquisition loan. The four-story property last traded in late 2006, when it fetched $5.8 million. Built in 1940, the mixed-use building includes a residential unit totaling 2,300 square feet and a commercial unit stretching across 5,400 square feet.
Sale Price: $1,750,000
A private-investor acquired the 2,400-square-foot office building in Sheepshead Bay. The 1983-built property last traded in mid-2015, when the current seller paid $1.1 million for the single-story asset. The property is easily accessible by the B and Q subway lines with the closest station at the southeast corner of 15th Street and Sheepshead Bay Road.
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