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July 2007

July 2007 » Market Analysis » NYC Buildings For Sale

July 2007 New York Buildings For Sale


New York Buildings sold


  • 60 Wall Street, a 47-story, 1.6 million sf office building, was sold to Paramount Group for $1 , 200 million.
  • Harlem portfolio, 4,000 residential units, was sold to Urban American Management; City Investment Fund for $940 million.
  • 885 Third Avenue (Lipstick Building), a 587,000 sf office building, was sold to Metropolitan Real Estate Investors for $607 million.
  • 229 West 43rd Street (New York Times Building), a 746,000 sf office building, was sold to Africa Israel Investments for $525 million.
  • Brooklyn and Queens portfolio of 2,000 residential units was sold for $250 million.
  • 1328 Broadway (2 Herald Square), a 11-story, 354,400 sf office and retail building, was sold to SL Green; Gramercy Capital Corp. for $225 million.
  • 333 West 34th Street, a 10-story, 345,400 sf office building, was sold to SL Green for $183 million.
  • 292 Madison Avenue, a 26-story, 193,000 sf office building, was sold to Metropolitan Real Estate Investors for $140 million.
  • 110 East 42nd Street, a 188,000 sf office condo, was sold to Michael Wahba, UEI; Charles Ishay, Gotham Realty for $111.5 million.
  • 183 Madison Avenue, a 19-story, 232,000 sf office building, was sold to Rock Joint Ventures for $107 million.
  • 250 West 39th Street, a 17-story, 181,000 sf office building, was sold to Lincoln Property Company; State of Illinois Pension System for $93.5 million.
  • 1745 Broadway, a 673,722 sf office condo, was sold to SL Green for $65 million.
  • 216 West 18th Street, a 12-story, 150,000 sf building, was sold for $50 million.
  • 989 Sixth Avenue, a 21-story, 91,050 sf office building, was sold to Isaac Chetrit for $49 million.
  • 2 West 47th Street, a 12-story, 78,230 sf office building, was sold to ABS Partners for $45 million.
  • 240 West 37th Street, a 131,900 sf office building, was sold to Isaac Chetrit for $43 million.
  • 1381-1389 Third Avenue, a Development site, was sold to Orin Wilf, Skyline Developers for $36 million.
  • 38-46 West 33rd Street, an 8-story, 325-car garage, was sold to Hersel Torkian for $30 million.
  • 1251 Lexington Avenue, a 9,141 sf retail condo, was sold to J. Halegua, N. Halegua, Jonis Realty-Lexington Partners for $25.15 million.
  • 730 Riverside Drive (The Beaumont), an 11-story, 63-unit apartment building, was sold for $20.5 million.
  • 80 Carmine Street, a 1-story, 8,000 sf retail building, was sold for $7.6 million.
  • 20 West 56th Street, a Development site, was sold to Sam Chang, McSam Hotel Group for $7.5 million.
  • 40 West 56th Street, a 5-story mixed-use building, was sold for $7 million.
  • 1408 Madison Avenue, a 5-story, 18-unit apartment building, was sold to Group 103 for $5.9 million.
  • 2212 Third Avenue, 2 commercial condos, 24,000 sf total, was sold to Center for Urban Community Services for $5.2 million.
  • 79 Franklin Street, a 3-story 3,231 sf mixed-use building, was sold to the Institute for Research in Human Happiness for $4 million.
  • 726 Amsterdam Avenue, a 5-story, 12-unit apartment building, was sold for $3.77 million.
  • 227 East 89th Street, a 5-story, 20-unit apartment building, was sold to a New York investor for $3.2 million.
  • 1264 Street, Nicholas Avenue, a Development site, was sold to Cohen Brothers for $3.2 million.
  • 523 West 135th Street, a 5 story, 21-unit apartment building, was sold to a Manhattan investor for $2.8 million.
  • 324 East 93rd Street, a 5-story, 10-unit apartment building, was sold to a Westchester investor for $2.6 million.
  • Icon Group bought 35 residential buildings on the Upper East Side, containing 760 apartments, for 160 million from the Klein family.
  • 230 Park Avenue south sold for $230 million, 386,000 Square Feet, to Rockrose or 700/RSF.
  • The Dylan Hotel, a 107 room hotel, located at 52 East 41st street, was sold for $78 million to Hot-Usa Group and Losan Hotels World of Madrid.
  • 220 West 42nd Street, 227,000 square foot building, is fully leased.
  • 32 Old Slip 1.1 million square feet 95 % leased.
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