New York Buildings soldThe Sapir Organization and CIM Group sold 11 Madison Avenue for $2.6 billion to SL Green. SL Green Realty Corp. agreed to pay $2.3 billion, and spend an additional $300 million for building improvement costs. 11 Madison contains a 2.2 million-square-foot building.
Prodigy is buying a 12-story building at 331 Park Avenue South for $51 million, including air rights from nearby properties. Prodigy is paying $49 million to buy 114 East 25th Street, a 42,000-square-foot loft-style property.
Crown Acquisitions and Oxford Properties Group bought the entire office and retail base of 641 Fifth Avenue (Olympic Tower), after paying $652 million for the remaining 50 %. The partners paid $418.9 million for 49.87 % in 2012 and have now purchased the other 50.13 % for $651.6 million. All of the 400,000 square feet of office space in the tower is leased.
The Lightstone Group picked up a pair of Fulton Street development sites from Fisher Brothers for more than $23 million. The properties lie next to the Financial District development site where Lightstone is planning to build a residential tower and hotel. The deal for 92 and 94 Fulton Street closed for a total of $23.25 million.
Delshah Capital closed on the purchase of a Herald Square retail building on the corner of West 35th Street and Seventh Avenue for $14 million.
A Chinese insurer that bought the Waldorf Astoria last year, has closed on it's second major acquisition in New York City, paying $415 million for the office portion of 717 Fifth Avenue.
Cornerstone Real Estate Advisors bought 100 Wall Street which contains 520,000-square-foot for $275 Million or $528 per square foot. Savanna bought the building in 2011 from Lehman Brothers.
Eretz Group purchased the landmarked Argonaut Building at 224 West 57th Street for $213.8 million. Lebanon-based M1 bought the 10-story, 170,000-square-foot building for $85 million in 2010 and put $50 million into renovations. The property includes two retail condominiums and office space. The building also has a 20-car basement level parking space.
LaSalle Investment Management purchased a five-story office condo at 200 Lafayette Street for $125 million. The office condo contained 80,000 square feet. The 40,000 retail portion of the building was not sold.
First Pioneer Properties bought a 23,800 square foot building at 12 East 44th Street, a seven-story office building for $26.5 million.
Cogswell Realty acquired the The Streit's Matzo Factory at 148-154 Rivington Street for $30.5 million and together contain 50,000 square feet.
Ackman partnered with a New York City-based developer and is reportedly in contract to buy 787 Eleventh Avenue. Ford uses the eight-story, 464,000-square-foot building, as showrooms and a service center. The contract price was not known, but rumored to be $230 million. Pershing Square Capital will take some of its space as its new headquarters.
Jared Kushner is buying a retail condo at 229 West 43rd Street for $296 million. The retail condo contains 250,000-square-foot space. Africa-Israel USA and a Capital firm are the sellers. The condominium is the former New York Times printing plant.
RXR Realty has financed its purchase of the Helmsley Building at 230 Park Avenue by closing a $785 million acquisition loan from American International Group.
Olmstead Properties and Jonathan Rose Cos. bought a 12-story Garment District offices of fashion house DKNY for $85 million. The 160,000-square-foot property is located at 240-248 West 40th Street.
Waterman Interests and USAA Real Estate acquired 142 West 36th Street and 234 West 39th Street for $118 million and contain a total 210,000 square feet. Roughly 75 % of the leases at the two properties are set to expire within five years, while 234 West 39th Street features 30,000 square feet of available development rights for potential expansion.
SMA Equities purchased 297 and 299 Third Avenue and a commercial condo for a total of $27.8 million and contain 13,000 square feet. The lots have a total of 46,000 buildable square feet. The commercial condo is located next door at 295 Third Avenue. SMA purchased 299 Third Avenue for $14 million, 297 Third Avenue for $9 million, and the commercial condo for $4.8 million.
New York Buildings For SaleSL Green Realty is looking to sell Tower 45, a Midtown office building at 120 West 45th Street and hopes to get north of $350 million for the 40-story tower.
Blackstone Group is looking to sell a 12-story office condo in the former New York Times building for $525 million. The space consists of the top 12 stories of 229 West 43rd Street containing 479,000-square-foot space. Blackstone bought the office portion of the building for $160 million in 2011 and invested $105 million in renovations.
RFR Holding is looking to sell the Paramount Hotel in Times Square. RFR bought the property at 235 West 46th Street in 2011 for $275 million. The building includes 597 rooms and RFR renovated the Diamond Horseshoe supper club as well as the guest rooms and other areas for $50 million. Expectations of sales price are between $350 million and $400 million.
A private Tribeca-based investors is get $88 million for a five-story parking garage that is ripe for a potential luxury residential conversion. The 41,000-square-foot garage at 56 North Moore Street, between Greenwich and Hudson streets, in Tribeca will be delivered vacant. The property offers 44,000 square feet of existing development rights. The price would equate to roughly $2,000 per square foot