Buildings Sold:
Morgan Stanley is selling 2 Park Avenue to Haddad Brands for $360 million. The 1-million-square-foot property breaks down to $360 per square foot.Savanna Real Estate Fund paid $85 million for the leasehold of the 100,000-square-foot space at 430 West 15th Street with an all-cash transaction. The acquisition works out to $912 per square foot.
Unit 52E at 50 West 66th Street sold for $55 million. The 7,000-square-foot apartment condo unit has five bedrooms, five bathrooms and two loggias.
Fortinet is in contract to buy the building at 548 West 22nd Street from Atlas Capital Group for about $50 Million. Fortinet plans to use the 45,000 square-foot building. The contract price is more than $1,100 per square foot, representing the high prices users will pay to acquire their own real estate.
Wharton Properties bought a stake in 690 Madison Avenue for $34 million. Sutton acquired the stake from SL Green. The acquisition gives Sutton a 50% stake in the retail building. Van Cleef & Arpels recently signed a lease for 7,800 square feet spanning all five floors of the property.
Laboz-led group buys 422 Fulton Street for $23 million, a redevelopment. A group of investors headed by United American Land and Crown Acquisitions and Jackson Group bought the 440,000-square-foot Macy’s space and plan to redevelop the historic property.
Sumaida + Khurana closed on a 4,650-square-foot site at 1 Walker Street for $18 million. They are planning a 10-story, 125-foot luxury condo complex. The firm is also pursuing additional air- rights at the site.
Cayre Equities buys 254-258 West 35th Street for $16.2 million from the Tekiners and expects to convert the 106,000-square-foot building to self-storage.