Top 5 NYC Office Building Sales—October 2021

Source: PropertyShark, a Yardi Systems Inc. company

1. 51 W. 52nd St., Manhattan
   Sale Price: $760,000,000

ViacomCBS Inc. sold the 817,095-square-foot high-rise, also known as the CBS Building or Black Rock, to Harbor Group International. ViacomCBS Inc. will continue to occupy the building through a new lease signed with HGI. The buyer secured a $420 million acquisition loan with a variable interest rate, co-originated by Deutsche Bank and Goldman Sachs. The Eero Saarinen-designed, 38-story landmark was completed in 1963 and underwent alterations in 2017.

2. 86 Trinity Place, Manhattan
   Sale Price: $155,000,000

86 Trinity Place, Manhattan

Clarion Partners sold the American Stock Exchange building to The Yucaipa Cos. iBorrow facilitated the transaction by providing a $97.1 million acquisition financing package to the buyer. The 14-story property totaling 181,725 square feet last traded in 2015 for $105 million. Originally built in 1921, then known as the Curb Exchange, the Art Deco building underwent renovations in 1931 that added additional levels to it.

3. 28 Howard St., Manhattan
   Sale Price: $21,750,000

The 10,999-square-foot SoHo property sold to an entity affiliated with Beretta USA. The five-story building was built in 1915 and designated as a landmark by the City of New York in 2011. Situated on a narrow, 2,175-square-foot lot, the building encompasses an 8,824 square-foot office component along with retail space.

4. 165 Bowery, Manhattan
   Sale Price: $18,750,000

Malka Realty Corp. sold the Lower East Side property to Wade Guyton Inc. The new owner is also a tenant in the building. The buyer also secured a $3.8 million seller carry back loan that is set to mature in November 2023. The mixed-use, four-story building was completed in 1920 and features an 11,800-square-foot office space, retail space totaling 4,800 square feet along with a 5,244-square-foot storage space.

5. 450 W. 31st St., Manhattan
   Sale Price: $8,600,000

A commercial unit part of the office tower totaling 112,146 square feet, home to The Real Deal, Melkonian Capital Management and Steven Holl Architects among others, sold in mid-October. While the 12-story building was originally built in 1918, the property underwent alterations in 2016. In 2018 Cushman & Wakefield and Rudder Property Group facilitated the sale of the penthouse along with the entire 12th floor of the building for $9.5 million.