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January 2009

January 2009 » Market Analysis » NYC Buildings For Sale

January 2009 New York Buildings For Sale

Manhattan Buildings sold

Only two Manhattan building transactions worth over $90 million have taken place so far this quarter. In October, Lloyd Goldman purchased 1372 Broadway, between 37th and 38th streets, for $274 million. Private-equity firm Brickman purchased 95 Morton Street, at Greenwich Street for $96.5 million. Only nine office space transactions over $2.5 million have occurred this quarter. There were 41 such transactions in the fourth quarter last year.

Coach closed on the purchase of its 12-story West Side corporate headquarters at 516 West 34th Street at 10th Avenue for $1.7 million.

Memorial Sloan-Kettering Cancer Center bought a four-story commercial building on the Upper East Side for $42 million located at 1133 York Avenue at 61st Street.

New York Buildings For Sale

Deutsche Bank has lowered the price tag for 1540 Broadway and Worldwide Plaza to $800 millions. The price drop comes weeks after the collapse of an agreement to sell the buildings to George Comfort & Sons for $2 billion. The deal fell apart when NBC backed out of talks for a 600,000-square-foot lease at Worldwide Plaza, which would make the building a much riskier investment.

The former Bouwerie Lane Theatre at 330 Bowery at Bond Street, listed for $36 million was bought for $15 million a year and a half ago. 26 West 76th Street mansion for $25 million was purchased for 5.8 million in 2006.

Bari family, which owns restaurant supply stores, reportedly selling eight-building portfolio on the Bowery

South Street Seaport General Growth Properties is selling three shopping malls, including the one at South Street Seaport, as it tries to raise money and avoid bankruptcy. The South Street Seaport mall has 286,000 square feet of retail space, and is 94 percent occupied.
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