{"id":1004701991,"date":"2024-01-31T03:48:36","date_gmt":"2024-01-31T11:48:36","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004701991"},"modified":"2024-02-12T03:54:55","modified_gmt":"2024-02-12T11:54:55","slug":"top-5-nyc-office-building-sales-december-2023","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/top-5-nyc-office-building-sales-december-2023\/","title":{"rendered":"Top 5 NYC Office Building Sales\u2014December 2023"},"content":{"rendered":"<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"800\" height=\"266\" data-attachment-id=\"1004701995\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/top-5-nyc-office-building-sales-december-2023\/0224_cpe_ps_office\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/02\/0224_CPE_PS_office.jpg\" data-orig-size=\"800,266\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&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;0&quot;}\" data-image-title=\"0224_CPE_PS_office\" data-image-description=\"&lt;p&gt;Source: PropertyShark, a Yardi Systems Inc. company&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;Source: PropertyShark, a Yardi Systems Inc. company&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/02\/0224_CPE_PS_office.jpg?w=800\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/02\/0224_CPE_PS_office.jpg?w=800\" alt=\"Source: PropertyShark, a Yardi Systems Inc. company\" class=\"wp-image-1004701995\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/02\/0224_CPE_PS_office.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/02\/0224_CPE_PS_office.jpg?resize=300,100 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/02\/0224_CPE_PS_office.jpg?resize=768,255 768w\" sizes=\"auto, (max-width: 800px) 100vw, 800px\" \/><figcaption class=\"wp-element-caption\">Source: PropertyShark, a Yardi Systems Inc. company<\/figcaption><\/figure><\/div>\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.propertyshark.com\/mason\/Property-Report\/?propkey=30791#section_general\" target=\"_blank\" rel=\"noreferrer noopener\">1825 Park Ave., Manhattan<\/a><\/li>\n<\/ul>\n\n\n\n<p>Sale Price: $56,226,159<\/p>\n\n\n\n<p>Locally based Savanna transferred ownership of the office building totaling 112,500 square feet in East Harlem also known as The Lee Building to TPG. The previous owner took out a $54 million refinance on the 12-story high-rise financed by the lender in early 2019. The 1901-built property last traded in late 2015 for $48 million, at the time of the sale TPG also provided a $45 million acquisition loan for Savanna.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.propertyshark.com\/mason\/Property-Report\/?propkey=20428\" target=\"_blank\" rel=\"noreferrer noopener\">560 Fifth Ave., Manhattan<\/a><\/li>\n<\/ul>\n\n\n\n<p>Sale Price: $38,000,000<\/p>\n\n\n\n<p>Geshary, a Japanese coffee company, acquired the five-story building totaling 13,580 square feet in Central Midtown. CBRE represented the buyer and Colliers worked on behalf of the seller, Riese Organization. Built in 1907, the low-rise encompasses 7,623 square feet of office space and 5,957 square feet of retail space across five commercial units.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.propertyshark.com\/mason\/Property-Report\/?propkey=121545\" target=\"_blank\" rel=\"noreferrer noopener\">540 Atlantic Ave., Brooklyn<\/a><\/li>\n<\/ul>\n\n\n\n<p>Sale Price: $38,000,000<\/p>\n\n\n\n<p>JCS Realty Group acquired the 76,928-square-foot office building in Boerum Hill through a transaction arranged by a JLL Capital Markets. The new owner plans to demolish the existing low-rise completed in 1924 and replace it with a 159-unit residential building. The planned project details an eight-story building with a ground-floor commercial space along with 41 parking spaces.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.propertyshark.com\/mason\/Property-Report\/?propkey=1631#section_general\" target=\"_blank\" rel=\"noreferrer noopener\">123 Watts St., Manhattan<\/a><\/li>\n<\/ul>\n\n\n\n<p>Sale Price: $7,675,000<\/p>\n\n\n\n<p>First Imperial Finance facilitated the sale of the 7,700-square-foot office building in TriBeCa with a $1.2 million acquisition loan. The four-story property last traded in late 2006, when it fetched $5.8 million. Built in 1940, the mixed-use building includes a residential unit totaling 2,300 square feet and a commercial unit stretching across 5,400 square feet.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.propertyshark.com\/mason\/Property-Report\/?propkey=331650\" target=\"_blank\" rel=\"noreferrer noopener\">2470 E. 16th St., Brooklyn<\/a><\/li>\n<\/ul>\n\n\n\n<p>Sale Price: $1,750,000<\/p>\n\n\n\n<p>A private-investor acquired the 2,400-square-foot office building in Sheepshead Bay. The 1983-built property last traded in mid-2015, when the current seller paid $1.1 million for the single-story asset. The property is easily accessible by the B and Q subway lines with the closest station at the southeast corner of 15th Street and Sheepshead Bay Road.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>PropertyShark collected the city\u2019s top deals for the sector.<\/p>\n","protected":false},"author":1269,"featured_media":1004701995,"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-1004701991","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-new-york","category-northeast","category-rc-office-nyc-spotlight"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Top 5 NYC Office Building Sales\u2014December 2023 - 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