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February 2014

February 2014 » Market Analysis » NYC Buildings For Sale

February 2014 New York Buildings For Sale


NYC Buildings For Sale

Vornado Realty Trust is asking roughly $650 million for its 20-story office tower at 1 Park Avenue. The real estate investment trust saved the 925,000-square-foot tower from foreclosure in 2011 after paying $180 million to recapitalize and gain control of it from Norman Sturner’s Murray Hill Properties.

A Financial District development site that will allow for a 264,200-square-foot residential tower or hotel is on the market for an undisclosed price. The site at 45 Broad Street once belonged to Kent Swig, but he was forced to turn it over in 2011 after defaulting on a loan

A 1.2 million-square-foot site in Hudson Yards is for sale and is expected to fetch around $200 million. The parcels, which stretch from West 35th to West 34th streets between 10th Avenue and an as of yet undeveloped Hudson Boulevard. The Rosenthal family is selling the parcels at 435 10th Avenue, 507 West 34th Street and 510-28 West 35th Street

A Real estate private equity company has signed a deal to sell a corner development site at 415 Eighth Avenue for $65 million.

The Hotel Carter in Times Square is expected to be for sale this year. John Cruz of GF Management has been running the 615-key hotel at 250 West 43rd Street, between Seventh and Eighth avenues. The company is in the process of addressing 15 outstanding building code violations.

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