{"id":1004144305,"date":"2016-05-18T11:17:16","date_gmt":"2016-05-18T19:17:16","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004144305"},"modified":"2025-02-25T23:54:34","modified_gmt":"2025-02-26T07:54:34","slug":"top-10-nyc-commercial-property-sales-recorded-in-april-2016","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/top-10-nyc-commercial-property-sales-recorded-in-april-2016\/","title":{"rendered":"Top 10 NYC Commercial Property Sales Recorded in April 2016"},"content":{"rendered":"

While no multi-billion dollar commercial property deals were recorded in April 2016, the data shows NYC real estate going strong. Savvy investors and developers are continuing to buy, and find substantial financing. Most notable this month was the almost exclusive domination by office properties, with lots of action in FiDi and Midtown.<\/p>\n

\"Source:<\/a>

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

 <\/p>\n

1. <\/strong>850 3rd<\/sup> Avenue, Manhattan\"CPE0616_charts_PropertyShark_Commercial<\/a><\/strong><\/a><\/p>\n

Sale Price: $463,000,000<\/strong><\/p>\n

Buyer: 850 Third Avenue Holding LLC<\/p>\n

Seller: Sri Nine 850 LLC<\/p>\n

A collaboration between MHP Real Estate Services and HNA acquired this notable 21-story, wedding cake shaped office building. Tenants reportedly include Chase Bank, NYPD, and FDNY.<\/p>\n

 <\/p>\n

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

Sale Price: $221,125,000<\/strong><\/p>\n

Buyer: 2 Rector Street (NY), LLC<\/p>\n

Seller: Rector Trinity Associates LLC<\/p>\n

Just blocks from the World Trade Center development, and boasting views of Trinity Church, this Financial District office building holds almost half a million square feet. The previous owner, Jared Kushner, paid $140 million for the property just three years ago.<\/p>\n

 <\/p>\n

3. <\/strong>30 Broad Street, Manhattan<\/strong><\/a><\/p>\n

Sale Price: $130,000,000<\/strong><\/p>\n

Buyer: 30 Broad Street Venture LLC<\/p>\n

Seller: Gotham Broad, LLC<\/p>\n

Another Financial District office building topping April\u2019s list. The leasehold on 30 Broad St.<\/a>, running through 2079, was acquired by Tribeca Associates, with annual rent of $2.7M due to the estate of Sol Goldman.<\/p>\n

 <\/p>\n

4. <\/strong>677 Lexington Avenue, Manhattan<\/strong><\/a><\/p>\n

Sale Price: $60,985,500<\/strong><\/p>\n

Buyer: 139 East 56TH Street Landlord LLC<\/p>\n

Seller: 677 Lex Realty, LLC<\/p>\n

Part of an assemblage in Midtown which could provide 115,000 square feet to be redeveloped. Existing tenant TGI Fridays could be ousted if New York YIMBY<\/a>\u2019s predictions that this could be a great residential or hotel site prove true.<\/p>\n

 <\/p>\n

5. <\/strong>681-685 Lexington Avenue, Manhattan<\/strong><\/a><\/p>\n

Sale Price: $54,015,500<\/strong><\/p>\n

Buyer: 139 East 56TH Street Landlord LLC<\/p>\n

Seller: 681LEX Land L P.<\/p>\n

8-unit commercial building in Central Midtown. Law 360 reports<\/a> that both of these Lexington Avenue deals were made in tandem with the intention of redevelopment as a health and memory care facility. Well Fargo provided and estimated $41M in financing for the deal.<\/p>\n

 <\/p>\n

6. <\/strong>41 South 3rd<\/sup> Street, Brooklyn<\/strong><\/a><\/p>\n

Sale Price: $36,200,000<\/strong><\/p>\n

Buyer: J B J L L C, C\/O Holm & O’Hara Llp<\/p>\n

Seller: Freewythe LLC<\/p>\n

Notable 5-parcel deal close to the water in Brooklyn\u2019s hot Williamsburg neighborhood. Redevelopment plans<\/a> for this assemblage which incorporates vacant lots, retail, and other commercial property are not clear yet due to existing leases. Sites included are 41, 43<\/a>, 45-51 South 3rd<\/sup> Street<\/a>, 53 South 3rd<\/sup><\/a>, and 60 South 2nd<\/sup> Street<\/a>.<\/p>\n

 <\/p>\n

7. <\/strong>27 East 79 Street, Manhattan<\/strong><\/a><\/p>\n

Sale Price: $28,000,000<\/strong><\/p>\n

Buyer: 27E79 Property LLC<\/p>\n

Seller: Ues 79, LLC<\/p>\n

This new purchase by developer Matthew Adell gives Michael Bloomberg a new neighbor. The property is located just steps from Central Park and Fifth Avenue.<\/p>\n

 <\/p>\n

8. <\/strong>516 8 Avenue, Manhattan<\/strong><\/a><\/p>\n

Sale Price: $25,000,000<\/strong><\/p>\n

Buyer: 516 Eighth Avenue Borrower LLC<\/p>\n

Seller: Jergil Mfg Corp.<\/p>\n

This is an 8-unit commercial property in Manhattan\u2019s Garment District and has a total square feet of 7,500. The property offers both retail and storage spaces.<\/p>\n

 <\/p>\n

9. <\/strong>310-316 Lenox Avenue, Manhattan<\/strong><\/a><\/p>\n

Sale Price: $21,080,388<\/strong><\/p>\n

Buyer: 310 Lenox Avenue LLC and Rm 310 Lenox LLC<\/p>\n

Seller: Off-Court, LLC<\/p>\n

Located in Harlem, this is a low-rise office building with 5 units and close to 25,000 square feet.<\/p>\n

 <\/p>\n

10. <\/strong>160 East 56 Street, Manhattan<\/strong><\/a><\/p>\n

Sale Price: $18,750,000<\/strong><\/p>\n

Buyer: Gray Associates, LLC<\/p>\n

Seller: Annette Duffy Odell, Executrix and Estate of Anna M Duffy and Gray Associates, LLC and Rose Lyons Properties LLC<\/p>\n

Located in Central Midtown, this office building holds 42 commercial units and over 50,000 square feet.<\/p>\n","protected":false},"excerpt":{"rendered":"

While no multi-billion dollar commercial property deals were recorded in April 2016, the data shows NYC real estate going strong. Savvy investors and developers are continuing to buy, and find substantial financing. Most notable this month was the almost exclusive domination by office properties, with lots of action in FiDi and Midtown.   1. 850…<\/p>\n","protected":false},"author":1312,"featured_media":1004144306,"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-1004144305","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 April 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\/top-10-nyc-commercial-property-sales-recorded-in-april-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 April 2016\" \/>\n<meta property=\"og:description\" content=\"While no multi-billion dollar commercial property deals were recorded in April 2016, the data shows NYC real estate going strong. 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