{"id":1004746920,"date":"2025-02-12T09:33:57","date_gmt":"2025-02-12T17:33:57","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004746920"},"modified":"2025-04-08T03:38:48","modified_gmt":"2025-04-08T11:38:48","slug":"new-york-life-division-sells-houston-office-asset","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/new-york-life-division-sells-houston-office-asset\/","title":{"rendered":"New York Life Division Sells Houston Office Asset"},"content":{"rendered":"\n<p><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-large is-resized\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/02\/515-Post-Oak-in-Houston-Texas.jpg\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004746922\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/515-post-oak-in-houston-texas-2\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/02\/515-Post-Oak-in-Houston-Texas-edited.jpg\" data-orig-size=\"2000,1501\" 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;1724340536&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=\"515 Post Oak in Houston, Texas\" data-image-description=\"&lt;p&gt;Exterior shot of 515 Post Oak, a 12-story, 274,583-square-foot office building in Houston.&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;New York Life Real Estate Investors has sold 515 Post Oak, a 274,583-square-foot, Class A office building in Houston. Image courtesy of JLL&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/02\/515-Post-Oak-in-Houston-Texas-edited.jpg?w=1024\" height=\"769\" width=\"1024\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/02\/515-Post-Oak-in-Houston-Texas-edited.jpg\" alt=\"Exterior shot of 515 Post Oak, a 12-story, 274,583-square-foot office building in Houston. \" class=\"wp-image-1004746922\" style=\"width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/02\/515-Post-Oak-in-Houston-Texas-edited.jpg 2000w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/02\/515-Post-Oak-in-Houston-Texas-edited.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/02\/515-Post-Oak-in-Houston-Texas-edited.jpg?resize=768,576 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/02\/515-Post-Oak-in-Houston-Texas-edited.jpg?resize=1024,769 1024w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/02\/515-Post-Oak-in-Houston-Texas-edited.jpg?resize=1536,1153 1536w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/a><figcaption class=\"wp-element-caption\">The office building at 515 Post Oak Blvd. rises 12 stories in Houston&#8217;s Galleria submarket. <em>Image courtesy of JLL<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>New York Life Real Estate Investors has sold 515 Post Oak, a 274,583-square-foot, Class A office building in Houston, to Dallas-based EY Ventures LLC. JLL worked on behalf of the seller and procured the buyer.&nbsp;<\/p>\n\n\n\n<p>New York Life REI came into possession of 515 Post Oak in 2022, according to CommercialEdge information. The previous owner, Spear Street Capital, had defaulted on the $44.5 million loan provided by the lender in 2019.<\/p>\n\n\n\n<p>The property covers a 3-acre site at 515 Post Oak Blvd., east of Houston\u2019s 610 West Loop. The location is also near interstates 10 and 69. Downtown Houston is some 8 miles away.<\/p>\n\n\n\n<p>Completed in the 1980s, the 12-story building has since undergone renovations worth more than $1 million. Improvements included upgrades to the fitness center, tenant lounge, onsite cafe, conference areas and parking. The mid-rise was awarded the LEED-Silver certification 10 times, most recently in 2023.&nbsp;<\/p>\n\n\n\n<p>The tenant roster features TopSpot, Greater Houston Community Foundation, Luxe Portfolio, Edge Realty Partners and Shale-Inland Holdings LLC. The building was 74 percent leased at the time of sale. <\/p>\n\n\n\n<p>Senior Managing Director Jeff Hollinden and Managing Director Kevin McConn led the JLL Capital Markets Investment Sales and Advisory team representing the seller.&nbsp;<\/p>\n\n\n\n<p><a href=\"https:\/\/www.commercialsearch.com\/news\/houston-office-figures-lag-behind-national-metrics\/\">Houston&#8217;s office investment volume<\/a> reached $940 million year-to-date as of November 2024. Assets traded at $107 per square foot, below the national average of $179, a recent CommercialEdge report shows.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The property has recently undergone capital renovations. <\/p>\n","protected":false},"author":3619,"featured_media":1004746922,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1589,21783,21742,21747,51973],"tags":[32796,33542],"class_list":["post-1004746920","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-houston","category-investment","category-latest","category-office","category-southwest","tag-jll","tag-new-york-life-real-estate-investors"],"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>New York Life Division Sells Houston Office Asset - 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