{"id":1004321909,"date":"2019-05-07T05:29:50","date_gmt":"2019-05-07T13:29:50","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004321909"},"modified":"2019-05-07T05:35:24","modified_gmt":"2019-05-07T13:35:24","slug":"nightingale-properties-to-buy-coca-cola-building-for-907m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/nightingale-properties-to-buy-coca-cola-building-for-907m\/","title":{"rendered":"Nightingale Properties to Buy Coca-Cola Building for $907M"},"content":{"rendered":"<div id=\"attachment_1004321918\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/05\/Coca-Cola-Building.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004321918\" data-attachment-id=\"1004321918\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/nightingale-properties-to-buy-coca-cola-building-for-907m\/coca-cola-building\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/05\/Coca-Cola-Building.jpg\" data-orig-size=\"800,620\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;Jeffrey Hamann&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1557245702&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"Coca-Cola Building\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Coca-Cola Building. Image via Google Street View&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/05\/Coca-Cola-Building.jpg?w=800\" class=\"wp-image-1004321918 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/05\/Coca-Cola-Building.jpg\" alt=\"\" width=\"300\" height=\"233\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/05\/Coca-Cola-Building.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/05\/Coca-Cola-Building.jpg?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/05\/Coca-Cola-Building.jpg?resize=768,595 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004321918\" class=\"wp-caption-text\">Coca-Cola Building. <em>Image via Google Street View<\/em><\/p><\/div>\n<p>The Coca-Cola Co. has entered into an agreement to sell its 354,000-square-foot Fifth Avenue office and retail building to Nightingale Properties for $907 million, according to <em>Commercial Observer<\/em>. The soft drink company has owned the asset for more than 35 years, acquiring it from Silverstein Properties in 1983 for $57.6 million, per Yardi Matrix data.<\/p>\n<p>The seller had hired a Cushman &amp; Wakefield team led by Doug Harmon, Adam Spies and Kevin Donner to market the asset.<\/p>\n<p>The historic structure rises 18 stories at 711 Fifth Ave. in Manhattan\u2019s Plaza District, immediately south of Trump Tower and three blocks from Central Park. Constructed in 1927, the property initially served as NBC\u2019s headquarters, prior to the 1933 move to 30 Rockefeller Plaza. Columbia Pictures moved in shortly after NBC\u2019s departure.<\/p>\n<p>Today, in addition to its core office component, the structure houses some 75,000 square feet of retail on the lower three floors. Coca-Cola last renovated the property in 2013. Office tenants at the building include Sandler Capital Management, Allen &amp; Co. and National Geographic, according to Yardi Matrix. Up until 2017, Ralph Lauren operated a flagship store out of 38,638 square feet on the first floor, alongside a number of other high-end retailers.<\/p>\n<p>In March, SL Green traded a 460,000-square-foot office asset just half a mile down the road from Coca-Cola\u2019s property. The buyer, Savanna, <a href=\"https:\/\/www.commercialsearch.com\/news\/sl-green-sells-manhattan-tower-to-savanna-for-381m\/\">paid more than $380 million<\/a> for the Class A property.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The soft drink giant put the Manhattan property up for sale late last year, enlisting Cushman &#038; Wakefield to market the historic asset.<\/p>\n","protected":false},"author":861,"featured_media":1004321918,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21808,21783,21752,1600,21742,10,21747],"tags":[35240,32799,37052,34035],"class_list":["post-1004321909","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-featured","category-investment","category-mixed-use","category-new-york","category-latest","category-northeast","category-office","tag-coca-cola-company","tag-cushman-wakefield","tag-nightingale-properties","tag-silverstein-properties"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Nightingale Properties to Buy Coca-Cola Building for $907M - 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\/nightingale-properties-to-buy-coca-cola-building-for-907m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Nightingale Properties to Buy Coca-Cola Building for $907M\" \/>\n<meta property=\"og:description\" content=\"The soft drink giant put the Manhattan property up for sale late last year, enlisting Cushman &amp; Wakefield to market the historic asset.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/nightingale-properties-to-buy-coca-cola-building-for-907m\/\" \/>\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=\"2019-05-07T13:29:50+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2019-05-07T13:35:24+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/05\/Coca-Cola-Building.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Jeff Hamann\" \/>\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\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/nightingale-properties-to-buy-coca-cola-building-for-907m\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/nightingale-properties-to-buy-coca-cola-building-for-907m\/\",\"name\":\"Nightingale Properties to Buy Coca-Cola Building for $907M - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/nightingale-properties-to-buy-coca-cola-building-for-907m\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/nightingale-properties-to-buy-coca-cola-building-for-907m\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/05\/Coca-Cola-Building.jpg\",\"datePublished\":\"2019-05-07T13:29:50+00:00\",\"dateModified\":\"2019-05-07T13:35:24+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/9dada606742ec2aa010683bdabf468f4\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/nightingale-properties-to-buy-coca-cola-building-for-907m\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/nightingale-properties-to-buy-coca-cola-building-for-907m\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/nightingale-properties-to-buy-coca-cola-building-for-907m\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/05\/Coca-Cola-Building.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/05\/Coca-Cola-Building.jpg\",\"width\":800,\"height\":620,\"caption\":\"Coca-Cola Building. Image via Google Street View\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/nightingale-properties-to-buy-coca-cola-building-for-907m\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Nightingale Properties to Buy Coca-Cola Building for $907M\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/9dada606742ec2aa010683bdabf468f4\",\"name\":\"Jeff Hamann\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/04\/Jeff-Hamann.jpg?w=96\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/04\/Jeff-Hamann.jpg?w=96\",\"caption\":\"Jeff Hamann\"},\"url\":\"https:\/\/www.commercialsearch.com\/news\/author\/jeffh\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Nightingale Properties to Buy Coca-Cola Building for $907M - Commercial Property Executive","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/nightingale-properties-to-buy-coca-cola-building-for-907m\/","og_locale":"en_US","og_type":"article","og_title":"Nightingale Properties to Buy Coca-Cola Building for $907M","og_description":"The soft drink giant put the Manhattan property up for sale late last year, enlisting Cushman & Wakefield to market the historic asset.","og_url":"https:\/\/www.commercialsearch.com\/news\/nightingale-properties-to-buy-coca-cola-building-for-907m\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2019-05-07T13:29:50+00:00","article_modified_time":"2019-05-07T13:35:24+00:00","og_image":[{"width":800,"height":620,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/05\/Coca-Cola-Building.jpg","type":"image\/jpeg"}],"author":"Jeff Hamann","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/nightingale-properties-to-buy-coca-cola-building-for-907m\/","url":"https:\/\/www.commercialsearch.com\/news\/nightingale-properties-to-buy-coca-cola-building-for-907m\/","name":"Nightingale Properties to Buy Coca-Cola Building for $907M - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/nightingale-properties-to-buy-coca-cola-building-for-907m\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/nightingale-properties-to-buy-coca-cola-building-for-907m\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/05\/Coca-Cola-Building.jpg","datePublished":"2019-05-07T13:29:50+00:00","dateModified":"2019-05-07T13:35:24+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/9dada606742ec2aa010683bdabf468f4"},"breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/nightingale-properties-to-buy-coca-cola-building-for-907m\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/nightingale-properties-to-buy-coca-cola-building-for-907m\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/nightingale-properties-to-buy-coca-cola-building-for-907m\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/05\/Coca-Cola-Building.jpg","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/05\/Coca-Cola-Building.jpg","width":800,"height":620,"caption":"Coca-Cola Building. 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