Top 5 NYC Office Building Sales—May 2021

PropertyShark compiled the top office building sales recorded last month in New York City.

Source: PropertyShark, a Yardi Systems Inc. company

  1. 207 E. 94th St., Manhattan
    Sale Price: $28,500,000

207 E 94th St., Manhattan

The May transaction marked an interest transfer in the 50,000-square-foot Upper East Side property, which has been part of Hirschfeld Properties’ portfolio since late 2019. The current owner acquired the asset from Glenwood Management. The property is subject to a $14.8 million mortgage originated by Well Fargo in April 2020 and is leased to The Icahn School of Medicine at Mount Sinai Hospital, among other tenants.

  1. 14 Vesey St., Manhattan
    Sale Price: $19,000,000

The New York County Lawyers Association sold its headquarters building to JTRE Holdings. The bar group had owned the New York City landmark since the 1930s. NYCLA’s board authorized the sale of the 30,000-square-foot building in 2019. A sale agreement in May 2020 fell through after the prospective buyer defaulted and didn’t appear at the real estate closing. NYCLA’s new headquarters is at 28 Liberty St.

  1. 78-84 Hudson Ave., Brooklyn
    Sale Price: $14,600,000

The sale marked an interest transfer in the 80,000-square-foot DUMBO property, which underwent an adaptive reuse program in 2018. The former factory, built in 1913, has been converted into a seven-story boutique office property. Amenities include 24-hour secured tenant access, renovated lobbies, refurbished HVAC systems and new passenger and freight elevators. The property is subject to a $14.5 million mortgage originated by Bank Leumi USA.

  1. 1145 60th St., Brooklyn
    Sale Price: $1,700,000

An entity affiliated with Leser Group sold 3,200-square-foot, stand-alone commercial property in Borough Park. The asset previously changed hands in February 2015 for a little over $1.4 million. The new owner secured $2.1 million in acquisition financing from FinWise Bank. The permanent, long-term loan carries a 5.67 percent interest rate and is scheduled to mature in April 2031.

  1. 67-05 Roosevelt Ave., Queens
    Sale Price: $1,550,000

The 2,667-square-foot Woodside property traded with help from a $1.1 million acquisition loan. Provided by Dime Community Bank, the mortgage is scheduled to mature in April 2031 and carries a 5.75 percent interest rate. The property last changed hands in 1996 and features a total of four commercial units. Built in 1931, the building is close to transportation options including the 7 subway line accessible at the SW corner of 69th Street and Roosevelt Avenue.

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