{"id":1004738013,"date":"2024-11-27T10:05:17","date_gmt":"2024-11-27T18:05:17","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004738013"},"modified":"2024-11-26T06:05:05","modified_gmt":"2024-11-26T14:05:05","slug":"top-5-nyc-office-building-sales-october-2024","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/top-5-nyc-office-building-sales-october-2024\/","title":{"rendered":"Top 5 NYC Office Building Sales\u2014October 2024"},"content":{"rendered":"\n<figure class=\"wp-block-image size-full\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/11\/1224_CPE_PS_office.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"800\" height=\"266\" data-attachment-id=\"1004738015\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/top-5-nyc-office-building-sales-october-2024\/1224_cpe_ps_office\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/11\/1224_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=\"1224_CPE_PS_office\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/11\/1224_CPE_PS_office.jpg?w=800\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/11\/1224_CPE_PS_office.jpg\" alt=\"The top NYC office building sales for October 2024 \" class=\"wp-image-1004738015\" style=\"object-fit:cover\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/11\/1224_CPE_PS_office.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/11\/1224_CPE_PS_office.jpg?resize=300,100 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/11\/1224_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\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.propertyshark.com\/mason\/Property-Report\/?propkey=22080\">653 Madison Ave., Manhattan<\/a><\/li>\n<\/ul>\n\n\n\n<p>Sale Price: $159.4 million<\/p>\n\n\n\n<p>Extell Development Co. bought the 198,347-square-foot office building in Manhattan\u2019s Lenox Hill neighborhood from Williams Equities, at a sale price of $803.8 per square foot. The acquisition was financed with a $150 million consolidated mortgage provided by Tyko Capital. Dating back to 1951 and rising 24 stories, the office building\u2019s tenant roster includes Knotel, Tisch Financial Management Co., Garnet Group Inc. and Trinity Place Holdings Inc., among others. Fried Frank represented the seller and advised the lender in securing the financing package.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/yardi365-my.sharepoint.com\/personal\/simona_tudose_yardi_com\/Documents\/Documents\/CPE%20WRITING\/PSRK%20TOP%20NYC%20TRANSACTIONS%20PROJECT\/10%20-%20OCTOBER\/CPE_1224_charts_PropertyShark.xlsx\">88 University Place, Manhattan<\/a><\/li>\n<\/ul>\n\n\n\n<p>Sale Price: $32.2 million<\/p>\n\n\n\n<p>CIM Group foreclosed on the 70,642-square-foot office building in Greenwich Village. The seller was Arch Cos., which defaulted on a nearly $71 million refinancing package secured in 2022 and backed by the property. The building dates back to 1906, rises 11 stories and had previously traded in 2015 for $70 million, when WeWork and its partner acquired it.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.propertyshark.com\/mason\/Property-Report\/?propkey=128390\">92 3rd St., Brooklyn<\/a><\/li>\n<\/ul>\n\n\n\n<p>Sale Price: $29.5 million<\/p>\n\n\n\n<p>Charitable organization Pearl Foundation Inc. purchased the 72,700-square-foot office asset in Brooklyn\u2019s Gowanus neighborhood from Samson Management. The seven-story property was built in 1968 and last upgraded in 2014. The asset previously changed hands in 2015, when Samson Management acquired it for $73 million. Since the start of the year, occupancy at the property has posed issues, especially with long-time tenant Bond Collective leaving and freeing up 50,000 square feet, according to <em>The Real Deal.<\/em><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.propertyshark.com\/mason\/Property-Report\/?propkey=12785\">29 W. 35th St., Manhattan<\/a><\/li>\n<\/ul>\n\n\n\n<p>Sale Price: $22.8 million<\/p>\n\n\n\n<p>The 71,180-square-foot building in the borough\u2019s Koreatown area traded between Starwood Property Trust and Empire State Equities. Starwood Property Trust bought back the property via its affiliate, LNR Partners, that acted as a loan servicer through a foreclosure auction deal. The seller defaulted on a $41 million loan originated in 2019 after it owned the 1911-built, 12-story asset since 2007.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.propertyshark.com\/mason\/Property-Report\/?propkey=12346\">7 W. 18th St., Manhattan<\/a><\/li>\n<\/ul>\n\n\n\n<p>Sale Price: $22.8 million<\/p>\n\n\n\n<p>Built in 1987, the 43,307-square-foot office building changed hands between Tarsat Properties and ASB Real Estate Investments. The Maryland-based seller owned the property in partnership with George Comfort &amp; Sons since 2015, when it purchased the nine-story building for $43.8 million. The Flatiron District property includes 4,000 square feet of retail space and is currently occupied by Harmony Partners, Uppercut Edit and Data Courier Systems, among others.<\/p>\n\n\n\n<p>\u2014Posted on November 26<\/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":1004738016,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21742,37789,37749],"tags":[52395],"class_list":["post-1004738013","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest","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\u2014October 2024 - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"PropertyShark collected the city\u2019s top deals for the sector. 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