{"id":1004586981,"date":"2022-06-27T08:59:40","date_gmt":"2022-06-27T16:59:40","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004586981"},"modified":"2022-12-08T14:37:53","modified_gmt":"2022-12-08T22:37:53","slug":"top-5-nyc-office-building-sales-may-2022","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/top-5-nyc-office-building-sales-may-2022\/","title":{"rendered":"Top 5 NYC Office Building Sales\u2014May 2022"},"content":{"rendered":"
\"\"<\/a>

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

    \n
  1. 475 Fifth Ave., Manhattan<\/a>
    \nSale Price: $291,000,000<\/li>\n<\/ol>\n

    A partnership between Nuveen Real Estate and Norges Bank Investment Management (NBIM) sold the 24-story office building totaling 275,738 square feet in Murray Hill. RFR Realty acquired the LEED Silver-certified tower with the help of a $180 million acquisition loan originated by JPMorgan Chase. The property last traded in 2011, when Nuveen paid $143.9 million for the 1926-built building, while NBIM acquired a 49.9 percent ownership stake two years later.<\/p>\n

      \n
    1. 645 Madison Ave., Manhattan<\/a>
      \nSale Price: $196,592,300<\/li>\n<\/ol>\n
      \"\"<\/a>

      645 Madison Ave. Image via Google Street View<\/p><\/div>\n

      With the current deal, Titan Golden Capital became sole owner the property totaling 164,615 square feet in Lenox Hill, following the $26.6 million acquisition of the ground lease on the 22-story tower last November. Marcus & Millichap\u2019s Eric Anton and Nelson Lee arranged the transaction. Completed in 1971, the Class A office building includes 33,697-square-feet of retail space.<\/p>\n

        \n
      1. 529 W. 20th St., Manhattan<\/a>
        \nSale Price: $32,000,000<\/li>\n<\/ol>\n

        A & R Kalimian sold a nearly 67 percent ownership interest in the 111,329-square-foot building also known as The Arts Building. Eagle Point Properties became the majority owner of the 11-story property in Chelsea. The area is home to a wide variety of galleries, the tenant roster includes ACA Galleries, Bruce Silverstein Gallery and Fine Art Conservation Group, among many others.<\/p>\n

          \n
        1. 513 W. 20th St., Manhattan<\/a>
          \nSale Price: $23,333,334<\/li>\n<\/ol>\n

          Eagle Point Properties also acquired a majority ownership interest in this 83,240-square-foot office building in the same neighborhood from the same seller. The seven-story mid-rise was completed in 1910 and underwent renovations in 1988. Adjacent to 1.5-mile-long linear park dubbed The High Line, the property\u2019s tenants include Crozier Fine Arts and Oui2 Entertainment.<\/p>\n

            \n
          1. 857 Broadway, Manhattan<\/a>
            \nSale Price: $22,000,000<\/li>\n<\/ol>\n

            Trans World Equities Inc. acquired the four-story office building totaling 11,636 square feet in the Flatiron District. As part of the transaction, the buyer also secured a $4 million seller carry-back loan. Completed in 1910, the property includes seven commercial units, 6,090 square feet of office space and a 5,546-square-foot retail portion.<\/p>\n","protected":false},"excerpt":{"rendered":"

            PropertyShark compiled the city’s top deals of the month for the sector.<\/p>\n","protected":false},"author":1269,"featured_media":1004587997,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1600,10,21747,37789],"tags":[],"class_list":["post-1004586981","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-new-york","category-northeast","category-office","category-rc-office-nyc-spotlight"],"acf":[],"yoast_head":"\nTop 5 NYC Office Building Sales\u2014May 2022 - CPE<\/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-nyc-office-building-sales-may-2022\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Top 5 NYC Office Building Sales\u2014May 2022\" \/>\n<meta property=\"og:description\" content=\"PropertyShark compiled the city's top deals of the month for the sector.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/top-5-nyc-office-building-sales-may-2022\/\" \/>\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=\"2022-06-27T16:59:40+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-08T22:37:53+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/06\/645-Madison-Ave.-Image-via-Google-Street-View-Office.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"400\" \/>\n\t<meta property=\"og:image:height\" content=\"310\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"the Editors of Commercial Property Executive\" \/>\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\/top-5-nyc-office-building-sales-may-2022\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/top-5-nyc-office-building-sales-may-2022\/\",\"name\":\"Top 5 NYC Office Building Sales\u2014May 2022 - 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