{"id":1004486554,"date":"2020-10-26T07:20:20","date_gmt":"2020-10-26T15:20:20","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004486554"},"modified":"2020-10-26T07:20:20","modified_gmt":"2020-10-26T15:20:20","slug":"top-5-office-building-sales-september-2020","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/top-5-office-building-sales-september-2020\/","title":{"rendered":"Top 5 Office Building Sales\u2014September 2020"},"content":{"rendered":"
\"\"<\/a>

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

    \n
  1. 980 E. 149 St., Bronx<\/a>
    \nSale Price: $117,791,000<\/li>\n<\/ol>\n

    Dune Real Estate Partners has entered into a joint venture with Turnbridge Equities for ownership and development of a last-mile distribution center. Dubbed the Bronx Logistics Center, the project will take shape on a 14-acre site, which includes the property at 980 E. 149 St. The partnership also secured $105 million in construction financing from J.P. Morgan for the 1.2 million-square-foot development. Upon completion, the industrial property is slated to be one of the region\u2019s largest multi-story, last-mile distribution hubs.<\/p>\n

      \n
    1. 2720 Jerome Ave., Bronx<\/a>
      \nSale Price: $12,750,000<\/li>\n<\/ol>\n

      KIPP NYC acquired the 19,000-square-foot property located in Fordham. Completed in 1983, the two-story building includes one commercial unit and is situated on a 0.5-acre lot. The seller had owned the asset since 1982. Nearby transportation options include the 4-subway line at the NE corner of Jerome Avenue and Kingsbridge Road, as well as the BX28 bus line at the intersection of Jerome Avenue and East 196 Street.<\/p>\n

        \n
      1. 118 E. 25th St. #7, Manhattan<\/a>
        \nSale Price: $19,000,000<\/li>\n<\/ol>\n
        \"\"<\/a>

        118 E. 25th St. #7, Manhattan<\/p><\/div>\n

        The 4,000-square-foot commercial unit spans the entire seventh floor of the nearly 50,000-square-foot mixed-use property, which was completed in 1983. The sold unit features nearly 11.3-foot beamed ceilings and 15 oversized windows facing North, South and East. Located in the Flatiron District, the co-op building overlooks Lexington Avenue Armory and is one block from Madison Square Park. Recent capital improvements include new windows and elevators.<\/p>\n

          \n
        1. 1468 Williamsbridge Road, Bronx<\/a>
          \nSale Price: $1,827,500<\/li>\n<\/ol>\n

          An entity affiliated with Mermelstein Development acquired the 7,227-square-foot low-rise building in Westchester Village. The seller was Bronxwood Assisted Living. Pangea Mortgage Capital facilitated the transaction with $1.9 million in acquisition financing, which carries a 6.75 percent interest rate and is scheduled to mature in September 2021. Completed in 1911 and upgraded in 2001, the professional property includes two commercial units.<\/p>\n

            \n
          1. 158 Brighton 11th St., Brooklyn<\/a>
            \nSale Price: $995,000<\/li>\n<\/ol>\n

            The 2,325-square-foot professional building is located in Brighton Beach and was completed in 1940. The sale closed with financial assistance from TD Bank, which originated $650,000 in acquisition funding. The permanent mortgage carries a 7-percent interest rate and a maturity date set for September 2030. The property previously changed hands in 2008. Transportation options in the area include the B-Q subway line and the B1 bus line, both less than 1 mile away.<\/p>\n","protected":false},"excerpt":{"rendered":"

            PropertyShark compiled the top 5 sales in office recorded in September 2020 in New York City.<\/p>\n","protected":false},"author":1312,"featured_media":1004486608,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1600,10,37789],"tags":[],"class_list":["post-1004486554","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-new-york","category-northeast","category-rc-office-nyc-spotlight"],"acf":[],"yoast_head":"\nTop 5 Office Building Sales\u2014September 2020 - 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-5-office-building-sales-september-2020\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Top 5 Office Building Sales\u2014September 2020\" \/>\n<meta property=\"og:description\" content=\"PropertyShark compiled the top 5 sales in office recorded in September 2020 in New York City.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/top-5-office-building-sales-september-2020\/\" \/>\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=\"2020-10-26T15:20:20+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/10\/118-E-25th-St-7-office.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=\"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\\\/top-5-office-building-sales-september-2020\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/top-5-office-building-sales-september-2020\\\/\"},\"author\":{\"name\":\"the Editorial Staff of CPE\\\/MHN\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/c3141425d7080d1ea3fd5b8beb15aecb\"},\"headline\":\"Top 5 Office Building Sales\u2014September 2020\",\"datePublished\":\"2020-10-26T15:20:20+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/top-5-office-building-sales-september-2020\\\/\"},\"wordCount\":387,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/top-5-office-building-sales-september-2020\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2020\\\/10\\\/118-E-25th-St-7-office.jpg\",\"articleSection\":[\"New York\",\"Northeast\",\"Office (NYC Spotlight)\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/top-5-office-building-sales-september-2020\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/top-5-office-building-sales-september-2020\\\/\",\"name\":\"Top 5 Office Building Sales\u2014September 2020 - 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