NYC Buildings For Sale
SL Green Realty has put 19 West 44th Street on the market, hoping to get at least $110 million for the property. The real estate investment trust recently tapped CB Richard Ellis to sell the 93-year-old, 18-story office building between Fifth and Sixth avenues. Sources say the move is part of a strategy for SL Green to raise more cash to expand the company's existing 23-million-square-foot Manhattan portfolio. SL Green hopes to get about $372 a square foot for 19 West 44th Street.685 Third Avenue received more than a dozen offers came in -- many in the $150 million range -- during the first round of bidding for the 33-floor office tower that belongs to pharmaceutical giant Pfizer. Pfizer, which picked up the 650,000-square-foot property for $250 million in 2003, is selling it off as part of a restructuring of its real estate portfolio and was expected to get around $130 million for the building, or $200 per square foot.
A mortgage on three adjacent Upper East Side apartment buildings with a balance of roughly $13 million is for sale mortgage, currently held by Brooklyn Federal Savings. the site's redevelopment potential should draw a number of interested buyers.
