Buildings for Sale:
Brookfield hopes to sell 3333 Broadway for $350 million for the 1,193 unit rental complex that has five connected buildings and is one of the biggest apartment complexes in Manhattan.Mitsui Fudosan America is looking to sell its majority stake at 525 West 52nd Street, a 392-unit property. Mitsui and Taconic are seeking a deal that would value the building at $275 million.
The Abu Dhabi Investment Authority is looking to sell its New York Edition Hotel at 5 Madison Avenue. The 271-key hotel in the landmarked clock tower overlooking Madison Square Park is asking $271 million.
666 Broadway, a six-story SoHo office and retail building is for sale asking $100 million.
Alex Sapir’s Sapir Corp is seeking to buy time to sell its debt-ridden NoMo Soho hotel, a 264-key hotel at 9 Crosby Street. Sapir Corp wants to push back the outstanding debt of $34 million that’s due next month until 2025. Sapir bought the hotel for $208 million in 2015, but the hotel’s value recently dipped to $179 million.
Related Companies is selling 321 West 44th Street, a 10-story, 220,000-square-foot office building to Namdar Realty Group and Empire Capital Holdings for $50.5 Million.The transaction was a short sale. The balance on the loan is above $100 million.
Host Hotels & Resorts is nearing the purchase of the Midtown Manhattan hotel at 1414 Sixth Avenue, aka 1 Hotel Central Park a 229-key property, price is unknown at this time.
Chetrit Group’s 65 Broadway recent appraisal value of the building was at $104.3 million. The Loan was sent to special servicing in March as the value is less than the $151 million loan that expires in August.
UBS is selling 135 West 50th Street, a 920 RSK, office building listed on Ten-X with a starting bid of just $7.5 million. UBS owns the property through a long-term leasehold, and Safehold owns the ground underneath the building. The starting bid is $7.5 million and it’s unclear what the reserve price is.
An unknown entity paid 81.5 million for units 63 and 18A at 220 Central Park South. They traded for a 30 % premium over their 2020 sale prices.
The Archdiocese plans to put the Terence Cardinal Cooke Building on the market by fall.
123 William Street and the retail space at 196 Orchard Street is coming to market for an unknown price.
700 Eighth Avenue, a 1,331-key hotel, which is being used as a migrant shelter, was put on the market earlier this year, but the hotel’s complicated ownership created challenges.The leasehold held by Werner’s group defaulted on a $275 million loan and its lender initiated a foreclosure.
David Werner’s investment group owns the ground underneath the hotel at 700 Eighth Avenue, and Highgate owns the hotel through a long-term lease.
Buildings Sold:
980 Madison Avenue in RFR Holding has unloaded the art gallery, office and retail building and the land under it for $560 million. It was bought by an entity affiliated with Michael Bloomberg.Highgate acquired David Werner’s interest in Manhattan’s Row Hotel in a deal worth around $350 million after an eventful few years for the hotel.
Empire Capital Holdings and Namdar Realty Group have agreed to purchase the property at 321 West 44th St. for less than $50 million, a 67% discount from the nearly $153 million that Related Fund Management paid for it in 2018. The 10-story building has approximately 220,000 square feet of space and houses tenants such as Battery Studios and ad agency AKA.
Sakhai brothers is in contract to buy a newly renovated office tower at 780 Third Avenue for $178 million or $350 SF of the 510,000 rentable-square-foot building from Nuveen.
$96.5 million for a 15-story office building at 101 Franklin Street in Tribeca. Columbia Property Trust sold the 200,000-square-foot property to TPG Capital.
$90 million (as two separate transactions, for $55 million and $35 million) for four properties in Fort Greene. The portfolio was sold by AMS Realty Company to Settlement Housing Fund and contains 193 residential units.
Fetner bought the 15-story, 174-unit luxury rental building at 85 East End Avenue for $75 million. Farallon Capital Management was a partner with Fetner’s.
The American Strategic Investment Company is in contract to sell 9 Times Square at 200 West 41st Street for $63.5 million to an unknown buyer. ASIC purchased 9 Times Square in November 2014 for $162.3 million.
Island Capital Group bought a multifamily property through purchasing a ground sublease. for $51.8 million at 35 West 21st Street. The 116-unit aka 37 West 21st Street and 39 West 21st Street. The seller was Canoe Brook Development.
Danny Wrublin‘s Dalan sold 2568 Broadway and 226 West 97th Street for $43 million to Nathan Benelyahou’s NJB Management Corporation.
Success Academy Charter Schools paid $37.2 million to Magen David Yeshivah for two properties at 7801 and 7815 Bay Parkway in Gravesend. The yeshiva is developing a new, 81,000-square-foot, $50 million building at the site that is expected to be completed in January 2027.
RFR and Kushner Companies have sold a stake in 81 Prospect Street to Pearl Realty Management developer the stake for $33.8 million, the nine-story, 95,000-square-foot property.
Gourmet Home Products acquired the 16-story 148 Madison Avenue office building for $31.3 million from Steven Klein. The 71,000 SF building will serve as Gourmet Home Products’ office and showroom.
Steve Croman sold 4 Hell’s Kitchen walk-ups for $20 million. One of the buildings is 351-357 West 45th Street. The buildings total 80 units. 95% of them rent-stabilized for $504 per square foot or $250,000 per unit.
A Tashkent Supermarket paid $16 million to Ilhanan Israilov for a 10,000 SF retail property at 2837 Coney Island Avenue.
