{"id":1004740885,"date":"2024-12-27T01:00:00","date_gmt":"2024-12-27T09:00:00","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004740885"},"modified":"2024-12-23T01:01:41","modified_gmt":"2024-12-23T09:01:41","slug":"top-5-nyc-office-building-sales-november-2024","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/top-5-nyc-office-building-sales-november-2024\/","title":{"rendered":"Top 5 NYC Office Building Sales\u2014November 2024"},"content":{"rendered":"<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"800\" height=\"266\" data-attachment-id=\"1004740886\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/top-5-nyc-office-building-sales-november-2024\/0125_cpe_ps_office\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/12\/0125_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=\"0125_CPE_PS_office\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/12\/0125_CPE_PS_office.jpg?w=800\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/12\/0125_CPE_PS_office.jpg\" alt=\"NYC's top office building sales for November 2024\" class=\"wp-image-1004740886\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/12\/0125_CPE_PS_office.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/12\/0125_CPE_PS_office.jpg?resize=300,100 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/12\/0125_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 Company<\/figcaption><\/figure><\/div>\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.propertyshark.com\/mason\/Property-Report\/?propkey=619325\">592 7th Ave., Manhattan<\/a><\/li>\n<\/ul>\n\n\n\n<p>Sale Price: $360 million<\/p>\n\n\n\n<p>Apollo Global Management has acquired a $360 million ownership and equity stake in the 1.1 million-square-foot office building, from RXR Realty. The seller will continue to hold the property as majority owner, in partnership with SL Green. The LEED-certified Times Square asset originally came online in 2000. It rises 38 stories, and features 40,000 square feet of space.<\/p>\n\n\n\n<p>The property last traded in 2016 when RXR Realty paid $1.6 billion for it. At the same time as the sale, the asset became subject to a $1.3 billion loan originated with Corebridge as senior lender. Apollo Global Management became the property&#8217;s mezzanine lender in 2022 and decided to convert its position into equity with this deal, becoming part of the ownership.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.propertyshark.com\/mason\/Property-Report\/?propkey=20694\">292 Madison Ave., Manhattan<\/a><\/li>\n<\/ul>\n\n\n\n<p>Sale Price: $90.5 million<\/p>\n\n\n\n<p>American Exchange Group acquired the 170,230-square-foot office mid-rise in Murray Hill from Vanbarton Group. The buyer also secured $77.2 million in acquisition financing provided by Deutsche Bank, through a consolidated and restated mortgage agreement. The acquisition follows Vanbarton Group\u2019s default on a $90 million loan secured by the Midtown property. The Art Deco building dates back to 1923, rises 24 stories and features 5,810 square feet of retail space.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.propertyshark.com\/mason\/Property-Report\/?propkey=5821\">72-76 Greene St., Manhattan<\/a><\/li>\n<\/ul>\n\n\n\n<p>Sale Price: $90 million<\/p>\n\n\n\n<p>ShopCore Properties has acquired the 45,000-square-foot office building in SoHo from ASB Real Estate. The buyer is one of Blackstone Group\u2019s divisions and the deal was part of a $197 million portfolio transaction, according to <em>PincusCo<\/em>. The office building last changed hands for $41 million in 2012, when ABS Real Estate picked it up from a private seller. The five-story asset includes three residential units totaling 11,250 square feet and 18,500 square feet of retail space.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.propertyshark.com\/mason\/Property-Report\/?propkey=657292\">360 Lexington Ave., Manhattan<\/a><\/li>\n<\/ul>\n\n\n\n<p>Sale Price: $65.5 million<\/p>\n\n\n\n<p>AmTrust Realty Corp. purchased the 238,294-square-foot, 24-story office property from Savanna Fund. The buyer landed a $52.4 million acquisition loan from Allstate Funding Corp. and acquired the property in joint venture with Capstone Equities, <em>TheRealDeal<\/em> reported. The Murray Hill building features 12,234 square feet of retail space and last changed hands in 2019 for $180 million, with AEW Capital Management as seller.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.propertyshark.com\/mason\/Property-Report\/?propkey=5775\">61-63 Crosby St., Manhattan<\/a><\/li>\n<\/ul>\n\n\n\n<p>Sale Price: $54.5 million<\/p>\n\n\n\n<p>The 27,930-square-foot office building was part of Blackstone Group\u2019s portfolio deal in SoHo, made through the company\u2019s ShopCore Properties division. The same ASB Real Estate sold the asset, which dates to 1900. The seller owned the two office properties in partnership with L3 Capital, according to <em>TheRealDeal<\/em>.<\/p>\n\n\n\n<p>\u2014Posted on December 27, 2024<\/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":1004740888,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21783,1600,21742,10,37789,37749],"tags":[52395],"class_list":["post-1004740885","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment","category-new-york","category-latest","category-northeast","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\u2014November 2024 - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"PropertyShark collects New York City&#039;s top office deals every month. 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