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October 2019

October 2019 » Market Analysis » NYC Buildings For Sale

October 2019 New York Buildings For Sale

Buildings For Sale:

Unizo Holdings Co. is selling two office buildings 40 West 25th Street and 685 Third Avenue.

Blackstone subsidiary EQ Office put the 622,000-square-foot office building at 65 East 55th Street on the market. Asking more than $800 million.

The land underneath Manhattan’s iconic Lipstick Building at 885 Third Avenue is for sale.

Buildings Sold:

A subsidiary of South Korean-based conglomerate Aju, bought 52 West 36th Street for $85.5 million and 30 West 31st Street for $51.2 million. Combined, the properties have 307 rooms. The seller was Chesapeake Lodging Trust.

HUBB NYC purchased three commercial condo units at 102 Fulton Street in Lower Manhattan. The company bought the units from YL Real Estate Developers.

Michael Shvo and his Turkish partner Serdar Bilgili are paying $955 million for the 354,000-square-foot building at 711 Fifth Avenue from Nightingale Properties and Wafra Capital Partners.

Brookfield Property Partners bought a hotel at 653 11th Avenue on West 48th Street for $82.7 million. The seller was PGIM Real Estate. The Kimpton Ink 48 hotel has 222 rooms and is 17 stories tall.

Clutter has bought a four-warehouse portfolio in New York for $152 million. The warehouses are 3046 Northern Boulevard, Long Island City, 5601 Foster Avenue, Brooklyn, 1 Holland Avenue, White Plains and 280 Fullerton Avenue, Yonkers. Yonkers and total about 500,000 square feet.

Slate, China Vanke and Adam America Group sold the 150,000-square-foot building at 45 Rivington Street to an anonymous buyer for $159.6 million.

Rose Associates sold a commercial condo at the Goodhue House, 20 East 35th Street in Murray Hill, for $16.8 million. The buyer was an LLC tied to Hubb NYC. The pre-war building is 15 stories and has 166 residential units.

JPMorgan’s asset management arm sold 195 Broadway for $800 million to L & L Holding, which already owns 5% of the property, L&L will buy JPMorgan’s 95% stake with an investment group made up of Seoul-headquartered Korea Investment & Securities and Samsung.

Educational Housing Services has purchased the 17-story property at 55 John Street from Tessler Developments for about $101 million.The building is used as a Pace University dorm

Anbang was in contract to sell its U.S. hotel portfolio for $5.8 billion, but discovered six of the properties’ deeds were fraudulently transferred to limited liability companies. The deal is now awaiting resolution of the fraudulent deeds.

250 and 254 West 23rd Street sold for $19.25 million. The seller was Jaffin-Segal Chelsea LLC and the buyer was TF Cornerstone..

Acadia Realty Trust sold 3860 Nostrand Avenue, a strip of two-story retail stores in Sheepshead Bay, for $27.65 million, The buyer was ECA Buligo Nostrand Partners LP, with Christopher Wild as member. .

a one-story, 40,000-square foot commercial building at 1281 Viele Avenue Bronx New York sold for $13 million. The seller of the property, was a partnership between M.B. Trucking Company and Hunts Point Energy Corp. The buyer was 1281 Viele LLC.

A Greenwich Village mixed-use building at 162 West 13th Street sold for about $22.5 million. First Republic Bank provided a $12 million mortgage to the buyers which are related to Abraham Sanieoff. Seller Harran Holding Corp was the seller. The six-story property contains about 23,000 square feet.

Jacob Chetrit is buying 220 East 42nd Street from SL Green Realty for $815 million. The 37-story property or the News Building is located at 42nd Street and Second Avenue. It was the former headquarters of the New York Daily News.
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