Top 5 NYC Office Building Sales—February 2023
PropertyShark compiled the city's top deals of the month for the sector.
Source: PropertyShark, a Yardi Systems Inc. company
Sale Price: $273,500,000
Vanbarton Group sold the LEED Silver-certified Fifteen Laight in TriBeCa to Hyundai in a deal arranged by Newmark. The seller converted the former home to the Tribeca Film Festival built in 1900 to a boutique office building totaling 97,814 square feet. Vanbarton Group turned to Gensler for the redevelopment and funded the adaptive reuse through a $141 million loan originated by Paramount Group Inc. in 2018.
Sale Price: $77,000,000
Enchanté Accessories acquired the 12-story office building totaling 119,006 square feet in NoMad from Columbia Property Trust. Newmark represented the seller, while Kassin Sabbagh Realty worked on behalf of the buyer and City National Bank provided a $53.9 million acquisition loan. The REIT paid $87.7 million for the high-rise in late 2017 and redeveloped the 1917-built asset. After the upgrade WeWork was set to fully occupy the office space, but the lease was terminated in mid-2020.
Sale Price: $10,120,000
Rockrose Development Corp. purchased the two-story building totaling 15,705 square feet in Woodside along with the adjoining parking lot across three parcels and the 10,050-square-foot warehouse at 32-49 49th St. The buyer amassed the properties from two different sellers for a combined $22 million. The property is easily accessible, a short distance from the M and R subway lines at the southeast corner of 48th Street and Broadway.
Sale Price: $9,250,000
A private investor sold the building totaling 19,241 square feet in Gowanus to International Baptist Church Inc. Originally built in 1931, the building was renovated and expanded in 2016. The mixed-use property includes 10,587 square feet of office space and 8,654 square feet of retail space. Nearby transportation options include the F and G subway lines on the corner of Smith and Second Streets.
Sale Price: $3,650,000
A private investor purchased the single-story building totaling 4,900 square feet in Woodside. The 1963-built property last traded in 2019, when the current seller paid $2.7 million for the asset with two commercial units. The 7 subway line is easily accessible at the northeast corner of 61st Street and Roosevelt Avenue, while Northern Boulevard is less than half a mile away.
You must be logged in to post a comment.