{"id":1004754211,"date":"2025-04-23T12:20:50","date_gmt":"2025-04-23T20:20:50","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004754211"},"modified":"2025-04-24T04:34:24","modified_gmt":"2025-04-24T12:34:24","slug":"top-5-nyc-office-building-sales-march-2025","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/top-5-nyc-office-building-sales-march-2025\/","title":{"rendered":"Top 5 NYC Office Building Sales\u2014March 2025"},"content":{"rendered":"<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"800\" height=\"266\" data-attachment-id=\"1004754829\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/top-5-nyc-office-building-sales-march-2025\/0525_cpe_ps_office\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/04\/0525_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=\"0525_CPE_PS_office\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/04\/0525_CPE_PS_office.jpg?w=800\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/04\/0525_CPE_PS_office.jpg?w=800\" alt=\"A chart of New York City's top office building sales of 2025\" class=\"wp-image-1004754829\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/04\/0525_CPE_PS_office.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/04\/0525_CPE_PS_office.jpg?resize=300,100 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/04\/0525_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=675632\" target=\"_blank\" rel=\"noreferrer noopener\">340 Madison Ave., Manhattan<\/a><\/li>\n<\/ul>\n\n\n\n<p>Sale Price: $161.3 million<\/p>\n\n\n\n<p>Barings took over the 557,735-square-foot office mid-rise property in Midtown Manhattan during an auction. The seller was RXR, that lost the property after it defaulted on a $315 million loan in 2024, originated initially in 2011 by Massachusetts Mutual Life Insurance, the parent company of Barings.<\/p>\n\n\n\n<p>The 22-story Class A office building came online in 19222 and includes 13,919 square feet of retail space. Notable tenants include PNC Bank, SPP Capital Partners and SRS Real Estate Partners, among others. The building recently underwent a $40 million improvement and repositioning program that included the addition of a new lobby and retail space, while amenities at the property feature a 10,000-square-foot amenity center.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.propertyshark.com\/mason\/Property-Report\/?propkey=12103\" target=\"_blank\" rel=\"noreferrer noopener\">363 7th Ave., Manhattan<\/a><\/li>\n<\/ul>\n\n\n\n<p>Sale Price: $21.3 million<\/p>\n\n\n\n<p>Empire Management sold the office component of the former Stewart Hotel building in the borough\u2019s Chelsea neighborhood to Sioni Group. The office space is part of a 31-story high rise totaling 946,782 square feet, dating back to 1930. Sioni Group acquired a total of 83,642 square feet, out of which 2,500 square feet are used for retail.<\/p>\n\n\n\n<p>The developer Sioni Group\u2019s purchase comes after it filed plans for a residential development at the former Stewart Hotel building, that will include 625 units, according to <em>New York Business Journal<\/em>. The office component at the address is spread across 22 stories.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.propertyshark.com\/mason\/Property-Report\/?propkey=44\" target=\"_blank\" rel=\"noreferrer noopener\">70 Broad St., Manhattan<\/a><\/li>\n<\/ul>\n\n\n\n<p>Sale Price: $20 million<\/p>\n\n\n\n<p>Miami-based Rialto Capital Advisors took over the historic 19,478-square-foot office asset from Winta Asset Management. The sale closed after the former owner of the property filed for Chapter 11 bankruptcy last year, struggling to retain tenants at the property, and defaulted on a $15 million loan according to <em>Crain\u2019s New York Business<\/em>. Wilmington Trust held the loan and Rialto Capital Advisors acted as special servicer on behalf of the company.<\/p>\n\n\n\n<p>The five-story building is also known as the American Bank Note Co. Building and is situated within the borough\u2019s Financial District. It dates back to 1908, was last upgraded in 2007 and includes three residential units totaling 4,260 square feet.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.propertyshark.com\/mason\/Property-Report\/?propkey=194612\" target=\"_blank\" rel=\"noreferrer noopener\">314 Scholes St., Brooklyn<\/a><\/li>\n<\/ul>\n\n\n\n<p>Sale Price: $19.3 million<\/p>\n\n\n\n<p>Hudson Cos. sold the 85,897-square-foot creative office property to an entity leading to Volmar Construction Inc. The buyer secured a $14 million acquisition loan from Ladder Capital Corp.<\/p>\n\n\n\n<p>The property last traded in 2014 for $17.8 million. At the time, the asset was an industrial warehouse that Hudson Cos. had redeveloped into an office and retail space. Now the three-story office building in Williamsburg includes a rooftop bar and retail space, as well as a skatepark.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.propertyshark.com\/mason\/Property-Report\/?propkey=400171\" target=\"_blank\" rel=\"noreferrer noopener\">37-02 82nd St., Queens<\/a><\/li>\n<\/ul>\n\n\n\n<p>Sale Price: $11.4 million<\/p>\n\n\n\n<p>Two private buyers purchased the 27,324-square-foot office building in the borough\u2019s Jackson Heights neighborhood from Vision Enterprises Management. The new ownership also secured a $7.4 million loan from Axos Bank.<\/p>\n\n\n\n<p>The three-story building came online in 1928 and includes 4,500 square feet of retail space and 6,700 square feet of unused air rights.<\/p>\n\n\n\n<p>\u2014Posted on April 23, 2025<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Here are the metro\u2019s largest transactions for the sector.<\/p>\n","protected":false},"author":1269,"featured_media":1004755218,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[37753,37756,1600,21742,10,37789,37749],"tags":[52395],"class_list":["post-1004754211","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-research-center-finance","category-rc-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\u2014March 2025 - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"New York City\u2019s top five biggest deals for the office sector, rounded up monthly by PropertyShark. 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