{"id":1004718390,"date":"2024-06-26T01:00:00","date_gmt":"2024-06-26T09:00:00","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004718390"},"modified":"2024-07-03T07:48:12","modified_gmt":"2024-07-03T15:48:12","slug":"top-5-nyc-retail-building-sales-may-2024","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/top-5-nyc-retail-building-sales-may-2024\/","title":{"rendered":"Top 5 NYC Office Building Sales \u2013 May 2024"},"content":{"rendered":"\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"800\" height=\"266\" data-attachment-id=\"1004718391\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/top-5-nyc-retail-building-sales-may-2024\/0724_cpe_ps_office_07c693\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/06\/0724_CPE_PS_office_07c693.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=\"0724_CPE_PS_office_07c693\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/06\/0724_CPE_PS_office_07c693.jpg?w=800\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/06\/0724_CPE_PS_office_07c693.jpg\" alt=\"Top NYC Office Sales - May 2024\" class=\"wp-image-1004718391\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/06\/0724_CPE_PS_office_07c693.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/06\/0724_CPE_PS_office_07c693.jpg?resize=300,100 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/06\/0724_CPE_PS_office_07c693.jpg?resize=768,255 768w\" sizes=\"auto, (max-width: 800px) 100vw, 800px\" \/><figcaption class=\"wp-element-caption\">Source: PropertyShark, a Yardi Systems company<\/figcaption><\/figure>\n\n\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li><a href=\"https:\/\/www.propertyshark.com\/mason\/Property-Report\/?propkey=20626\">1370 Ave. of the Americas, Manhattan<\/a><\/li>\n<\/ul>\n<p>Sale Price: $160,979,906<\/p>\n<p>Barings purchased 1370 Ave. of the Americas, also known as The Continental Tower, in early May. The 311,501-square-foot, 1970-built Midtown Manhattan property was subject to a $150 million loan held by Mass Mutual, the parent company of Barings. Principal Real Estate Investors sold the 32-story office tower after 17 years of ownership. Newmark negotiated the transaction, according to <em>The Real Deal<\/em>.<\/p>\n<ul>\n<li><a href=\"https:\/\/www.propertyshark.com\/mason\/Property-Report\/?propkey=7709\">8 W. 14th St., Manhattan<\/a><\/li>\n<\/ul>\n<p>Sale Price: $57,500,000<\/p>\n<p>The 110,000-square-foot office building in Manhattan\u2019s Greenwich Village was purchased by Legion Investment Group and EJS Development from Phillips International. The joint venture also secured a $37.5 million acquisition loan from Maxim Capital Group. Completed in 1946 and upgraded in 2001, the six-story office building was home to New York City\u2019s Human Resources Administration. That lease expired in January 2023, according to a press release by Avison Young.<\/p>\n<ul>\n<li><a href=\"https:\/\/www.propertyshark.com\/mason\/Property-Report\/?propkey=12176\">124 W. 36th St., Manhattan<\/a><\/li>\n<\/ul>\n<p>Sale Price: $10,000,000<\/p>\n<p>Apparel company Studio Nazar acquired the 28,000-square-foot, seven-story office building in Manhattan\u2019s Garment District. The new ownership also landed a $5 million acquisition loan, in the form of a consolidated and extension agreement originated by Bank of America. ASM Realty Group sold the 1922-built property which it had owned since 1981.<\/p>\n<ul>\n<li><a href=\"https:\/\/www.propertyshark.com\/mason\/Property-Report\/?propkey=710179\">3030 Nostrand Ave., Brooklyn<\/a><\/li>\n<\/ul>\n<p>Sale Price: $6,800,000<\/p>\n<p>The Ha&#8217;Or Beacon School bought the 15,000-square-foot, three-story office building in Brooklyn\u2019s Madison neighborhood from a private individual. The school also secured a $3.9 million construction loan from Provident Bank<em>. <\/em>The property dates back to 1989.<\/p>\n<ul>\n<li><a href=\"https:\/\/www.propertyshark.com\/mason\/Property-Report\/?propkey=12082\">156 W. 29th St., Manhattan<\/a><\/li>\n<\/ul>\n<p>Sale Price: $6,300,000<\/p>\n<p>A private investor purchased the Chelsea office property, totaling 7,410 square feet across four stories, from a private seller. The buyer also obtained a $3.1 million acquisition loan from The Bank of Princeton. A Cushman &amp; Wakefield team brokered the deal.<\/p>\n<\/li>\n<\/ul>","protected":false},"excerpt":{"rendered":"<p>PropertyShark collected the city\u2019s top deals for the sector.<\/p>\n","protected":false},"author":1269,"featured_media":1004718392,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21783,1600,21742,37789],"tags":[52395],"class_list":["post-1004718390","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment","category-new-york","category-latest","category-rc-office-nyc-spotlight","tag-propertyshark"],"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 \u2013 May 2024 - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"PropertyShark collected New York City\u2019s top office sales that closed in May. 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