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November 2009

November 2009 » Market Analysis » NYC Buildings For Sale

November 2009 New York Buildings For Sale


Manhattan Buildings sold

Midtown Equities and Israeli holding company IDB Group announced their acquisition of HSBC Bank USA's New York headquarters at 452 Fifth Avenue, between 39th and 40th streets. This was the first time Midtown Equities had teamed up with IDB, and are now working on six or seven projects in New York City, where they will be either buying buildings or buying first mortgage notes from banks. At 452 Fifth Avenue, two parties are considering signing a lease on the top 18 floors that will be vacant in 2011. HSBC will continue to occupy the remaining 11 floors of the 29-story, 865,000-square-foot building, which sold for $330 million, $400 per square foot, for a ten year term.

New York City Buildings Sold

  • 901 Broadway, a 5-story, 14,336 sf commercial building, was sold to Spanish investor for $24.6 million.
  • 4401 Bronx Boulevard (The Bronx), 40,000 sf medical office building, was sold to Montefiore Medical Center for $5.19 million.
  • 92 West Houston Street, a 4-story, 3,788 sf mixed-use building, was sold for $3.4 million.
  • 305 Seventh Avenue, a 2,700 sf office condo, was sold to a Real estate holding company for $1.73 million.
  • 791-795 Westchester Avenue (The Bronx), a 2 -story, 7,679 sf commercial building and vacant lot, was sold for $1.2 million.
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