{"id":1004142377,"date":"2016-04-20T11:20:25","date_gmt":"2016-04-20T19:20:25","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004142377"},"modified":"2025-02-25T23:54:42","modified_gmt":"2025-02-26T07:54:42","slug":"nycs-most-expensive-commercial-property-sales-in-march-2016","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/nycs-most-expensive-commercial-property-sales-in-march-2016\/","title":{"rendered":"Top 10 NYC Commercial Property Sales Recorded in March 2016"},"content":{"rendered":"

Check out the ten most expensive commercial real estate deals recorded in NYC! The March 2016 data shows a substantial demand for development sites and mixed-use buildings.<\/p>\n

\"Source:<\/a>

Source: PropertyShark, a Yardi Systems Inc. company<\/p><\/div>\n

 <\/p>\n

1. <\/strong>163 Front Street<\/strong><\/a>, Manhattan & <\/strong>80-83 South Street<\/strong><\/a>, Manhattan\"CPE0516_charts_PropertyShark_Top<\/a><\/strong><\/p>\n

Sale Price: $390,000,000<\/strong><\/p>\n

Buyer: <\/strong>Oceanwide Center NY LLC<\/p>\n

Seller: <\/strong>80 South, LLC<\/p>\n

This two-building deal encompasses 163 Front Street and 80-83 South Street<\/a> in Manhattan\u2019s Financial District. YIMBY<\/a> reports the newest flip of this development site property as a package deal with 820,000 square feet. The seller, Howard Hughes Corp., bought the South Street site for $100M in 2014. A plan for a mixed-use tower has now been approved.<\/p>\n

 <\/p>\n

2.<\/strong> 2 Rector Street, Manhattan<\/strong><\/a><\/p>\n

Sale Price: $221,000,000<\/strong><\/p>\n

Buyer: <\/strong>Meptcove Two Rector Acquisition LLC<\/p>\n

Seller: <\/strong>2 Rector Kushner Member, LLC, 2 Rector Street Partners (Parallel-1 L P., Cim Fund Viii L P, S-2R Co-Investor, LLC<\/p>\n

36-story office tower in the heart of Manhattan\u2019s Financial District<\/a> with 466,000 square feet of leasable space. The sellers, Kushner Companies and CIM Group, reportedly purchased this prime property for just $140M in 2013.<\/p>\n

 <\/p>\n

3. <\/strong>150 Marcy Avenue, Brooklyn<\/strong><\/a><\/p>\n

Sale Price: $80,000,000<\/strong><\/p>\n

Buyer: <\/strong>Havemeyer Owner LLC<\/p>\n

Seller: <\/strong>The Dime Savings Bank of Williamsburg<\/p>\n

5-parcel deal in hot Williamsburg incorporating 150 Marcy Avenue, 262 South 4th<\/sup> Street<\/a>, 205 Havemeyer Street<\/a>, and 263 South 5th<\/sup> Street<\/a>, purchased by a conglomeration of Tavros Development, Charney Construction, and 1 Oak Development. May be redeveloped as a new mixed-use project according to YIMBY<\/a>.<\/p>\n

 <\/p>\n

4. <\/strong>106 West 56th<\/sup> Street, Manhattan<\/strong><\/a><\/p>\n

Sale Price: $48,694,000<\/strong><\/p>\n

Buyer: <\/strong>106 West 56TH Street Property Investors III, LLC<\/p>\n

Seller: <\/strong>America Press, Inc.<\/p>\n

The Savanna Fund and Hong Kong\u2019s Atom Assets have already filed plans for a new 26-story office building<\/a> on this site. Demolition of the existing building is expected to begin next year. The completion of the new space, geared towards smaller business tenants, is slated for 2019.<\/p>\n

 <\/p>\n

5. <\/strong>48-02 30 Place, Queens<\/strong><\/a><\/p>\n

Sale Price: $24,034,709<\/strong><\/p>\n

Buyer: <\/strong>Bindery Owner LLC<\/p>\n

Seller: <\/strong>Brickman 48TH Ave Lic LLC<\/p>\n

The first of two Queens deals on this month\u2019s list. This corner property covers 49,800 square feet, and 7 commercial units.<\/p>\n

 <\/p>\n

6. <\/strong>24-16 Queens Plaza S, Queens<\/strong><\/a><\/p>\n

Sale Price: $23,000,000<\/strong><\/p>\n

Buyer: <\/strong>24-16 Queens Plaza Property Owner LLC<\/p>\n

Seller: <\/strong>Maamin Properties, LLC<\/p>\n

This Long Island City office building was purchased by Greystone Development, who are said to have plans to add 8 floors. The end product is expected to be a $65M mixed-use tower incorporating co-working office space, fitness facilities, a rooftop terrace, and residential units with additional amenities.<\/p>\n

 <\/p>\n

7. <\/strong>697 5 Avenue, Manhattan<\/strong><\/a><\/p>\n

Sale Price: $20,000,000<\/strong><\/p>\n

Buyer: <\/strong>697 Fifth2 East 55TH Street Tic B Mortgage<\/p>\n

Seller: <\/strong>De Beers Diamond Jewellers Us Inc<\/p>\n

This is one of the most prestigious addresses in the world. This ultra-prime NYC property<\/a> is in the heart of Fifth Avenue, and hosts both retail and residential units.<\/p>\n

 <\/p>\n

8. <\/strong>202 East 77 Street, Manhattan<\/strong><\/a><\/p>\n

Sale Price: $17,500,000<\/strong><\/p>\n

Buyer: <\/strong>202 East 77TH Street, LLC<\/p>\n

Seller: <\/strong>Haug 202 Associates, LLC<\/p>\n

This is a mixed-use Lennox Hill building, currently home to a much raved about wedding and special event venue.<\/p>\n

 <\/p>\n

9. <\/strong>1623 Kings Highway, Brooklyn<\/strong><\/a><\/p>\n

Sale Price: $17,000,000<\/strong><\/p>\n

Buyer: <\/strong>Lido Realty LLC<\/p>\n

Seller: <\/strong>Arc Ny1623K001, LLC<\/p>\n

Another Brooklyn property, this 5-unit office building has 5 commercial units. Tenants include Verizon, a mental health clinic, and a popular 4,000 square foot Midwood mixed martial arts studio.<\/p>\n

 <\/p>\n

10. <\/strong>408-410 West 15th<\/sup> Street, Manhattan<\/strong><\/a><\/p>\n

Sale Price: $15,000,000<\/strong><\/p>\n

Buyer: <\/strong>408 West 15TH Street Owner LLC<\/p>\n

Seller: <\/strong>405 West 14TH Street, LLC<\/p>\n

136-138 Lawrence Street, Brooklyn<\/strong><\/a><\/p>\n

Sale Price: $15,000,000<\/strong><\/p>\n

Buyer: <\/strong>136 Lawrence LLC<\/p>\n

Seller: <\/strong>G. Spitzer And Co. LLC<\/p>\n

408-410 West 15th<\/sup> St. in Manhattan and 136-138 Lawrence Street, Brooklyn tied for 10th<\/sup> place at $15M. The Manhattan transaction was for a 4-story retail and apartment building. The Downtown Brooklyn transaction holds 3 residential and 3 commercial units.<\/p>\n","protected":false},"excerpt":{"rendered":"

Check out the ten most expensive commercial real estate deals recorded in NYC! The March 2016 data shows a substantial demand for development sites and mixed-use buildings.   1. 163 Front Street, Manhattan & 80-83 South Street, Manhattan Sale Price: $390,000,000 Buyer: Oceanwide Center NY LLC Seller: 80 South, LLC This two-building deal encompasses 163…<\/p>\n","protected":false},"author":1312,"featured_media":1004142375,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[11,1600,10,37789,37790],"tags":[],"class_list":["post-1004142377","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-midatlantic","category-new-york","category-northeast","category-rc-office-nyc-spotlight","category-rc-retail-nyc-spotlight"],"acf":[],"yoast_head":"\nTop 10 NYC Commercial Property Sales Recorded in March 2016 - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/nycs-most-expensive-commercial-property-sales-in-march-2016\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Top 10 NYC Commercial Property Sales Recorded in March 2016\" \/>\n<meta property=\"og:description\" content=\"Check out the ten most expensive commercial real estate deals recorded in NYC! The March 2016 data shows a substantial demand for development sites and mixed-use buildings.   1. 163 Front Street, Manhattan & 80-83 South Street, Manhattan Sale Price: $390,000,000 Buyer: Oceanwide Center NY LLC Seller: 80 South, LLC This two-building deal encompasses 163…\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/nycs-most-expensive-commercial-property-sales-in-march-2016\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2016-04-20T19:20:25+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-02-26T07:54:42+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/04\/CPE0516_charts_PropertyShark_Top-commercial-Photo-80-83-South-Street.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"768\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"the Editorial Staff of CPE\/MHN\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/nycs-most-expensive-commercial-property-sales-in-march-2016\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/nycs-most-expensive-commercial-property-sales-in-march-2016\\\/\"},\"author\":{\"name\":\"the Editorial Staff of CPE\\\/MHN\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/c3141425d7080d1ea3fd5b8beb15aecb\"},\"headline\":\"Top 10 NYC Commercial Property Sales Recorded in March 2016\",\"datePublished\":\"2016-04-20T19:20:25+00:00\",\"dateModified\":\"2025-02-26T07:54:42+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/nycs-most-expensive-commercial-property-sales-in-march-2016\\\/\"},\"wordCount\":607,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/nycs-most-expensive-commercial-property-sales-in-march-2016\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2016\\\/04\\\/CPE0516_charts_PropertyShark_Top-commercial-Photo-80-83-South-Street.jpg\",\"articleSection\":[\"Mid-Atlantic\",\"New York\",\"Northeast\",\"Office (NYC Spotlight)\",\"Retail (NYC Spotlight)\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/nycs-most-expensive-commercial-property-sales-in-march-2016\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/nycs-most-expensive-commercial-property-sales-in-march-2016\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/nycs-most-expensive-commercial-property-sales-in-march-2016\\\/\",\"name\":\"Top 10 NYC Commercial Property Sales Recorded in March 2016 - 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