Top 5 Retail Space and Office Building Sales

Top 5 retail space sales recorded in May 2017

Source: PropertyShark, a Yardi Systems Inc. company

1. 

   633-635 Fulton St., Brooklyn

   633-635 Fulton St., Brooklyn
   Sale Price: $68,000,000

Comprising 36,000 square feet across three stories, this retail space was originally built in 1920 and was last renovated in 2009. Housing three commercial units in downtown Brooklyn, the property is home to Dollar Deal and Healthfirst Insurance.

2. 1177 Broadway, Manhattan
   Sale Price: $13,500,000

Located in Midtown’s Madison Square North Historic District, the property features two stories and three commercial units totaling 4,432 square feet of space.

3. 160 E. 70^th St., Manhattan
   Sale Price: $9,350,000

This 5,994-square-foot asset offers five stories with one commercial unit at 1,242 square feet. In addition to the retail component, the building has 4,752 square feet of residential space above. Located in the Upper East Side Historic District, the property was estimated to have been built in 1901.

4. 6422 18^th Ave., Brooklyn
   Sale Price: $8,000,000

A banking facility for Santander, the company encompasses 15,916 square feet of space in the two-story building. In the Borough Park neighborhood of Brooklyn, the building was constructed in 1929 and was last altered in 1978.

5. 218 W. 20^th St., Manhattan
   Sale Price: $7,750,000

This Chelsea asset offers one retail unit at 1,700 square feet and two residential units at a total of 3,278 square feet, with an average unit size of 1,639 square feet. The building is estimated to have been developed in 1920 and stands three stories high.

Top 5 office building sales recorded in May 2017

Source: PropertyShark, a Yardi Systems Inc. company

1. 

   245 Park Ave., Manhattan

   245 Park Ave., Manhattan
   Sale Price: $2,210,000,000

Purchased by the HNA Group from Brookfield Properties, this 1.8 million-square-foot high-rise office asset was originally built in 1966 and was completely renovated in 2000. With a vacancy rate of 5.7 percent, the 45-story building includes 68,000 square feet of ground-floor retail and is LEED-certified Gold. Some of its tenants include JP Morgan Chase Bank, Oaxaca Mexican Grill, Vestar Capital Partners, Northwestern Mutual and Angelo, Gordon & Co.

2. 619 W. 54^th St., Manhattan
   Sale Price: $166,500,000

Purchased by Silverstein Properties from Taconic Investment Partners, this 326,861-square-foot office building is located in the Times Square-Hell’s Kitchen submarket. With a 28.9 percent vacancy rate, it currently has five spaces totaling 94,498 square feet available for lease. The 10-story property also offers 25,000 square feet of retail space and a 30,000-square-foot showroom. Notable tenants include Volvo Cars of Manhattan, RK Bridal, MicroEdge and the New York Stem Cell Foundation.

3. 7 W. 44^th St., Manhattan
   Sale Price: $68,000,000

Standing at 12 stories high, the Paragon Building was originally constructed in 1914 and renovated in 2012. A total of 9,500 square feet of retail space is available out of the total 52,875. Housing tenants such as DISCO International, Manhattan Wellness Medical Care, Diamond Vision and 44^th Street Chiropractic, this transit-oriented tower asset was last owned by Raptor Films.

4. 30 E. 29^th St., Manhattan
   Sale Price: $36,153,620

Offering five commercial units, the 21,885-square-foot office building includes 4,000 square feet of retail space. Standing on a 4,938-square-foot lot, the six-story building was originally constructed in 1903 and was last altered in 1987.

5. 22-43 Jackson Ave., Queens
   Sale Price: $23,000,000

This one-story, 6,400-square-foot property is located in the Hunters Point neighborhood of Queens. Built in 1964, it houses the Local 808 I.B.T. Health and Welfare union.