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May 2019

May 2019 » Market Analysis » NYC Buildings For Sale

May 2019 New York Buildings For Sale

Buildings For Sale:

Marymount School of New York has listed its five-story, 12,300-square-foot townhouse at 2 East 82nd Street between Fifth and Madison avenues for $32 million.

JPMorgan is looking to sell 195 Broadway for $800 million. The bank’s asset management arm owns a 95% stake in the 1.1 million-square-foot building through a partnership with L&L Holding and Beacon Capital. JPMorgan Asset Management is considering bids ranging from a 49% stake to a sale of full ownership. If 195 Broadway sold for $800 million, the asset manager would be realizing roughly $730 a square foot.

Buildings Sold:

Savanna has a contract to buy the office buildings at 24-28 West 25th Street for about $110 million form Unizo Holdings.

60 Guilders and Carlyle have sold the retail co-op unit at 106 Spring Street to SL Green Realty for $79.5 million, a significant discount from the $105 million they originally paid for the space.

Nightingale Properties is in talks to buy 711 Fifth Avenue from Coca-Cola for $910 million. That price works out to more than $2,500 per square foot for the 354,000-square-foot building.

The Elad Group has picked up a trio of commercial units at the new luxury condominium tower it recently built with Silverstein Properties on the Upper West Side. Elad shelled out $51 million for the retail unit and two garages at One West End located at 11th Avenue and 59th street from the joint venture it has with Silverstein to construct the 43-story tower.

The New York County Law Association is selling their four-story, 89-year-old landmarked building at 14 Vesey Street to Jack Terzi for a price in the low $20 million range. The organization signed a lease for office space at 28 Liberty Street in Lower Manhattan. The lease spans around 20,000 square feet.

RFR Realty is buying 875 Washington Street for $129.5 million from ASB Real Estate. The firm plans to lease the entire office portion of the building to the co-working network Soho Works.

An LLC tied to hedge funder Mark Sonnino has sold the commercial office building at 555 West 25th Street for $43.3 million to a London-based developer. High Line Realty LLC, controlled by Sonnino, sold the six-story, 51,000-square-foot loft building to Mactaggart and Family Partners.

Premier Equities and Thor Equities sold a commercial condominium at 51 Greene Street to Acadia Realty Trust for $14.6 million.
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