Top 5 NYC Office Building Sales in 2025
These are the five largest transactions in New York City closed in 2025, collected by PropertyShark.
Sale Price: $1.1 billion
RXR’s acquisition of 590 Madison Ave., a 999,646-square-foot office tower in Central Midtown, marked New York City’s largest office sale of 2025. The State Teachers Retirement System of Ohio sold the 43-story property in August.
The transaction also represented New York City’s largest acquisition in the past three years. The buyer first announced the sale in May 2025, with Elliott Investment Management as equity partner. Apollo Global Management originated a $650 million acquisition loan, while the deal was brokered by Eastdil Secured.
Formerly known as the IBM Building, the property dates back to 1981, with the latest upgrades completed in 2014.
Sale Price: $572.3 million
The second-largest office sale was Norges Bank Investment Management’s purchase of the 912,955-square-foot 1177 Avenue of Americas in Times Square. The buyer acquired a 95 percent ownership stake in the asset, with the remaining 5 percent purchased by Beacon Capital Partners, which was retained as property manager.
Additionally, Beacon Capital Partners issued a $373 million loan through a consolidated and restated note backing the 47-story tower.
The transaction closed in October with California State Teachers’ Retirement System and Silverstein Properties as sellers. The office building changed hands at a notable discount, compared to its previous, $1 billion sale from 2007.
The office building dates back to 1988 and was last upgraded in 2016. It includes 29,132 square feet of retail space.
Sale Price: $357 million
Haddad Brands has bought the 852,731-square-foot office building from Morgan Stanley, in a deal closed in January 2025. Fried Frank advised Haddad Brands during negotiations, with the seller planning to occupy the property at the time.
The 25-story building is in the borough’s NoMad neighborhood and dates back to 1928. It was last upgraded in 2011 and includes 41,465 square feet of retail space.
Haddad Brands picked it up at a 37 percent discount compared to the previous time the property changed hands. In 2007, Morgan Stanley purchased it from L&L Holding Co. for $565 million.
Sale Price: $273 million
Sovereign Partners has acquired the property known as 2 Grand Central Tower in a deal closed in early December 2025. Rockwood Capital sold the 629,323-square-foot building in the borough’s Turtle Bay neighborhood.
Sovereign Partners also secured a $117 million acquisition loan issued by Metropolitan Life Insurance Co. The property sold at a 32 percent discount from its previous sale in 2011, when Rockwood Capital paid $401 million to purchase all interest in the asset from BXP.
The building rises 43 stories and dates back to 1982, with the latest renovations completed in 2013.
Sale Price: $211.2 million
The last sale on our list is AmTrust Realty’s purchase of the 531,270-square-foot office building at 260 Madison Ave. The Sapir Organization, which owned the asset since 1996, sold the property in December 2025. The acquisition was funded by a $200.5 million acquisition loan issued by Mishmeret Trust Co. through a consolidated note.
AmTrust was under contract to acquire the property since October last year. At the time, 260 Madison Ave. was 68 percent leased, according to Commercial Observer. The initial acquisition price was set at $217 million, while AmTrust Realty plans to reposition the 1952-built property with up to $70 million in capital improvements.
The office building was previously upgraded in 2015, includes 20,517 square feet of retail space and is in the borough’s Murray Hill neighborhood.
—Posted on January 26, 2026
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