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February 2020

February 2020 » Market Analysis » NYC Buildings For Sale

February 2020 New York Buildings For Sale

Buildings Sold:

Savanna sold 434 Broadway for more than $103 million to Tokyo Trust Capital Co and MC Real Estate Partners.

SL Green Realty bought 707 Eleventh Avenue with plans to attract tech tenants for $90 million. The six-story building had been owned by Kenneth Cole since 2004.

Jeff Sutton and Joe Sitt have gone into contract to sell 530 Broadway for $400 million, to a partnership led by Michael Shvo’s firm. Wharton is the majority owner of the trio of 11-story buildings at 530-536 Broadway.

Healthcare Trust of America bought a two-story medical office building located at 4337 Broadway from the Health Insurance Plan of Greater New York for about $11.7 million. The property contains 11,000 square feet.

Dynamic Star purchased 2371 Exterior Street for $12 million. The site contains 44,000 square feet and includes 180 feet of frontage along the Harlem River. Dynamic Star is ultimately planning a $3.5 billion project in the neighborhood that will include housing, a public school, an e-sports arena, office space and more across a number of sites that contain about 40 acres of land.

A partnership between investor Nightingale Group and Kuwait’s sovereign wealth fund Wafra has closed on its $175 million purchase of 111 Wall Street. The buyers bought the building from Zurich Insurance, and their leasehold on it will last for 49 years.

Penn South Capital purchased 39 Clarkson Street in the West Village from an LLC signed to Rano Properties for $27.25 million. The property contains 40,000 square feet.

Slovakia’s Ministry of Foreign and European Affairs purchased office space at 866 United Nations Plaza in Midtown from an LLC based in Lower Manhattan for $13.9 million.

Buildings For Sale:

591-593 Broadway is up for sale and has Victoria’s Secret as its tenant and is asking about $90 million. The Hauser family, have owned the buildings since 1980. The Hausers are looking to sell now for estate-planning purposes.

575 Lexington Avenue is for sale asking 650 Million. The owners are Normandy Real Estate Partners, Angelo Gordon & Co. and George Comfort & Sons. The building is 35-story located between East 51st and East 52nd streets.

A leasehold interest in 412 West 15th Street and 413-421 West 14th Street is for sale asking $275 million. The properties are an office-and-retail development in the Meatpacking District, Rockpoint Group and Highgate Hotels. The property has signed a retail lease for Turkish restaurateur Nusret.

JPMorgan Asset Management is looking to sell their 23-story office building at 125 West 55th Street asking around $550 million or $900 per square foot. The 575,000-square-foot building is on West 55th Street between Sixth and Seventh avenues.

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