Top 5 NYC Office Building Sales—July 2022

Source: PropertyShark, a Yardi Systems Inc. company

1. 95 Morton St., Manhattan
   Sale Price: $288,237,722

RFR Realty sold the office mid-rise totaling 217,084 square feet in West Village to Meadow Partners. The buyer secured a $155 million acquisition loan originated by Deutsche Pfandbriefbank. Originally built in 1911, the eight-story property was gut renovated in 2000 followed by further updates in 2017. The building includes 20,000 square feet of retail space, while the office portion is home to PayPal, Fanatics and Vsa Partners, among others.

2. 109 S. Fifth St., Brooklyn
   Sale Price: $45,970,879

Meadow Partners sold The Artisan, a 63,033-square-foot office building in Williamsburg to Heitman. Built in 1903 as an industrial facility, the six-story building was converted to its current use in 2001. The property last traded in mid-2015 when Meadow Partners shelled out $42 million for the Brooklyn asset, which offers coworking options through Spaces. The J/M/Z subway lines are all located near at the northeast corner of Havemeyer St. and Broadway.

3. 62 W. 45th St., Manhattan
   Sale Price: $36,000,000

62 W. 45th St. Image courtesy of Google Street View

Renaissance Properties sold the 55,800-square-foot mid-rise in Central Midtown. The new owner, Stellar Services, paid nearly $1.3 million less than the mid-2019 sale price, when Andover Realty sold the 12-story office building. Bank of America facilitated the current transaction with an $18.5 million acquisition loan. Built in 1911, the office tower was last renovated in 2018 and is home to Consulate General of the Republic of Serbia and Hudson Technology Group Inc., among others.

4. 1057 Southern Blvd., Bronx
   Sale Price: $22,750,000

Vanbarton Group sold the three-story building totaling 10,444 square feet of office space in Foxhurst to Global Asset Properties. Flushing Bank financed the sale with a $16.3 million acquisition loan. Renovated in 2019, the property includes six commercial units as well as 3,481 square feet of retail space. Nearby transportation options include the 2 and 5 subway lines at the intersection of Westchester Ave. and Simpson St., as well as the BX5 bus line at the corner of Southern Blvd. and Westchester Ave.

5. 55-61 Westchester Square, Bronx
   Sale Price: $9,000,000

Benerofe Properties sold the 28,722-square-foot building in Westchester Village to Laundry Capital Co. The buyer secured a $5.8 million acquisition loan originated by Signature Bank. The two-story building was developed in 1981 by the current seller for Con Edison. The property includes 9,574 square feet of retail space occupied by Walgreens and The Jewish Board of Family Services.