{"id":1004722634,"date":"2024-07-30T01:00:00","date_gmt":"2024-07-30T09:00:00","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004722634"},"modified":"2024-07-29T06:52:15","modified_gmt":"2024-07-29T14:52:15","slug":"top-5-nyc-office-building-sales-june-2024","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/top-5-nyc-office-building-sales-june-2024\/","title":{"rendered":"Top 5 NYC Office Building Sales\u2014June 2024"},"content":{"rendered":"\n<figure class=\"wp-block-image size-full\"><a href=\"https:\/\/www.commercialsearch.com\/news\/?attachment_id=1004722638\"><img loading=\"lazy\" decoding=\"async\" width=\"800\" height=\"266\" data-attachment-id=\"1004722638\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/top-5-nyc-office-building-sales-june-2024\/0824_cpe_ps_office\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/07\/0824_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=\"0824_CPE_PS_office\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/07\/0824_CPE_PS_office.jpg?w=800\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/07\/0824_CPE_PS_office.jpg\" alt=\"Top 5 NYC Office Building Sales\u2014June 2024\" class=\"wp-image-1004722638\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/07\/0824_CPE_PS_office.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/07\/0824_CPE_PS_office.jpg?resize=300,100 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/07\/0824_CPE_PS_office.jpg?resize=768,255 768w\" sizes=\"auto, (max-width: 800px) 100vw, 800px\" \/><\/a><figcaption class=\"wp-element-caption\">Source: PropertyShark, a Yardi Systems Company<\/figcaption><\/figure>\n\n\n<ul>\n<li><a href=\"https:\/\/www.propertyshark.com\/mason\/Property-Report\/?propkey=661144\">980 Madison Ave., Manhattan<\/a><\/li>\n<\/ul>\n<p>Sale Price: $560,000,000<\/p>\n<p>RFR Realty sold the 118,635-square-foot, six-story office building in Manhattan\u2019s Lenox Hill neighborhood to an entity related to Bloomberg. The property held an approximately $200 million CMBS loan, according to <em>The Real Deal<\/em>. The asset was built in 1949 and went through a complete upgrade in 2006. It includes 22,949 square feet of retail space.<\/p>\n<ul>\n<li><a href=\"https:\/\/www.propertyshark.com\/mason\/Property-Report\/?propkey=120718\">175 Pearl St., Brooklyn<\/a><\/li>\n<\/ul>\n<p>Sale Price: $66,500,000<\/p>\n<p>Watermark Capital Group purchased the 184,965-square-foot office property in downtown Brooklyn from seller Cannon Hill Capital Partners. The acquisition was funded by two loans totaling approximately $59 million, originated by BridgeCity Capital. The new ownership plans to convert the nine-story building into a 230,000-square-foot multifamily complex that will bring 238 units in the area, according to <em>The Real Deal<\/em>.<\/p>\n<ul>\n<li><a href=\"https:\/\/www.propertyshark.com\/mason\/Property-Report\/?propkey=13199\">89 Madison Ave., Manhattan<\/a><\/li>\n<\/ul>\n<p>Sale Price: $65,000,000<\/p>\n<p>The 146,161-square-foot office mid-rise changed hands from seller Sklar Equities to buyer Sunlight Development. The 16-story NoMad property became subject to bankruptcy proceedings in 2021. The new ownership secured $50 million in financing from S3 Capital. The property was originally completed in 1912 and, under the new ownership, will be converted into a mixed-use multifamily property that will include 70 apartments units, according to <em>Traded<\/em>.<\/p>\n<ul>\n<li><a href=\"https:\/\/www.propertyshark.com\/mason\/Property-Report\/?propkey=120704\">81 Prospect St., Brooklyn<\/a><\/li>\n<\/ul>\n<p>Sale Price: $33,750,000<\/p>\n<p>RFR Realty, together with Kushner Cos., sold its majority ownership stake totaling 84 percent in the 93,107-square-foot downtown Brooklyn office asset, to Pear Realty Management. The nine-story property last changed hands in 2017, when Invesco Real Estate sold it. The\u00a0 building was last upgraded in 2014 and includes 6,182 square feet of retail space.<\/p>\n<ul>\n<li><a href=\"https:\/\/www.propertyshark.com\/mason\/Property-Report\/?propkey=654697#section_occupancy\">148 Madison Ave., Manhattan<\/a><\/li>\n<\/ul>\n<p>Sale Price: $31,331,875<\/p>\n<p>Gourmet Home Products acquired the 71,871-square-foot, 16-story office building in Manhattan\u2019s NoMad neighborhood from a private seller. The new ownership secured a $19 million acquisition loan from Interaudi Bank, through an assumption note. \u00a0The 1917-built asset is currently leased to multiple tenants.<\/p>","protected":false},"excerpt":{"rendered":"<p>PropertyShark collected the city\u2019s top deals for the sector.<\/p>\n","protected":false},"author":1269,"featured_media":1004722640,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21783,37789,37749],"tags":[52395],"class_list":["post-1004722634","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment","category-rc-office-nyc-spotlight","category-research-center-cpe","tag-propertyshark"],"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>Top 5 NYC Office Building Sales\u2014June 2024 - 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