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September 2014

September 2014 » Market Analysis » NYC Buildings For Sale

September 2014: New York Buildings For Sale


New York Buildings sold

A Greenwich, Conn.-based real estate investor group purchased the leasehold interest at the Midtown Extended-Stay Marriott at 144 East 48th Street from AEW Capital Management for $89.6 million. Barclays gave a $57 million loan.

The single-room-occupancy Camden Hotel, which the 24th Precinct on the Upper West Side once ranked as the area's second most dangerous building, has sold for $15 million.

A Real estate developer purchased the Quad Cinema in Greenwich Village and will embark on a renovation that will see the independent theater redone as a repertory house.

Normandy Real Estate Partners is purchasing a 50 percent stake in the Financial District's twin-building office property 80 and 90 Maiden Lane. A deal that values the properties at about $210 million.

The tiny Kingdom of Lesotho, an enclave in South Africa that is a little smaller than the state of Maryland, has just sold 204 East 39th Street. CB Developers paid $7.6 million for the four-story building, which is next to its Murray Hill residential project, at 200 East 39th Street, where it is building an 18-story building with 91 planned units. The building will measure 95,000 square feet, with 6,000 square feet of commercial and retail space.

Treetop Development has sold part of their Harlem Portfolio to Flatbush-based E&M Associates for $29 million.

ABS Partners sold a development site at 353 and 355-357 Broadway, between Leonard and Franklin streets.

Ashkenazy Acquisition is in contract to pay $60 million for the 45,000-square-foot building on the corner of 17th Street and Seventh Avenue. This is the location where Barney's was originally housed.

Acadia Realty Trust officially closed on two retail co-op units at 131-135 Prince Street for $50 million.

Hotel developer Sam Chang/McSam Hotel Group bought a Midtown West property with the purchase of the six-story Postgraduate Center for Mental Health for $50.8 million.

Solil Management, the company that controls the assets of late real estate mogul Sol Goldman, sold a five-story Midtown East commercial property with 37,000 buildable square feet for $65.3 million.

A 12-story commercial building in the West Village located at 627 Greenwich Street, was recently purchased by Brack Capital Real Estate for roughly $105 million. The building, along with an adjacent parking lot at 111 Leroy Street, was owned Peter Moore, who won approvals in 2008 to rezone the sites to allow for housing.

A family-run real estate firm is in contract to pay more than $20 million to purchase the 6,700-square-foot retail condo in the One Madison residential.

RFR Holding acquired the Holiday Inn Soho for $89.7 million.

Fordham University just bought a new property in close proximity to Lincoln Center for $49.6 million.

RFR Realty is in contract to buy New York City's Church Missions House at 281 Park Avenue South.

The Federation of Protestant Welfare Agencies is buying office space for more than $13 million.

NYC Buildings For Sale

The Blue Moon Hotel is still being marketed asking $19 million in the Lower East Side.

Alfa Developments had planned a 12-story residential building at a former Hershey factory in Chelsea. The West 21st site is back on the market for $30 million. Alfa purchased the site, located at 117-119 West 21st Street between Sixth and Seventh avenues, in late 2012 for $12 million.

A landmarked Upper West Side church located at 361 Central Park West acquired in June has been flipped to a Brooklyn investor for around $42 million, and has now been quietly placed back on the market.

The two-story Lower East Side nightclub venue that formerly housed the short-lived Mystique Ultra Lounge and Bobby's is now for sale. The retail site is being marketed as a development site with more than 21,000 buildable square feet. The site is expected to sell for as much as $15 million. A developer could construct a building as tall as 125 feet or 10 extra stories on top of the existing two floors.

Two years after Jamestown Properties' proposed 330,000-square-foot Chelsea Market addition was approved in a controversial decision, renderings of the planned office space have surfaced.

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