Top 5 Office Building Sales

PropertyShark compiled the top 5 sales in office for December 2017 in New York City.
Source: PropertyShark, a Yardi Systems Inc. company
Source: PropertyShark, a Yardi Systems Inc. company
  1. 1440 Broadway, Manhattan

    1440 Broadway, Manhattan
    Sale Price: $520,000,000

Previously named the W.O.R. Building, this 25-story asset was purchased by the CIM Group from New York REIT. According to Yardi Matrix, the sale was subject to a $330 million loan held by Deutsche Bank. Totaling 756,732 square feet, property was built in 1924 and was completely renovated in 2001. Including 24,000 square feet of first floor retail space, the building is LEED Gold certified. Current tenants include Gap, Macy’s, the Ford Foundation, Work Better, FedEx and Mexicue. New York REIT previously acquired the asset in 2013 from Rockpoint Group for $528.7 million.

  1. 260 E. 161st St., Bronx
    Sale Price: $115,224,210

Comprising 10 stories in Concourse Village, this 218,388-square-foot building features both office and retail space. Originally built in 1930, the property was last renovated in 2011. Current tenants include Dunkin Donuts, Chipotle and the Bronx Human Resources Department. The asset is located within close proximity to the B/D/4 subway lines at Walton Avenue/161st Street and the BX32 bus route on Morris Avenue/East 161st Street.

  1. 147-149 Madison Ave., Manhattan
    Sale Price: $87,700,000

Columbia Property Trust acquired this 127,000-square-foot building from Abramson Brothers, who had owned the asset since 1998. Comprising 12 stories, the building was originally constructed in 1917 and features 49 commercial units. According to Yardi Matrix, Newmark Knight Frank handles leasing operations for the property. Situated on a 6,918-square-foot lot, the building provides close access to the 6 subway line at Park Avenue/32nd Street and several express bus lines on Madison Avenue/East 32nd Street.

  1. 224 Fifth Ave., Manhattan
    Sale Price: $21,000,000

This six-story building features six commercial units comprising 11,017 square feet of office and 2,500 square feet of retail. Estimated to have been built in 1980, the property is located within the Madison Square North Historic District. The N/R subway lines are located close by on Broadway/28th Street, as well as multiple express busses at the Fifth Avenue/West 26th Street stop.

  1. 1435 86th St., Brooklyn
    Sale Price: $8,150,000

Situated on a 12,000-square-foot lot in Bensonhurst, this property is home to Romantique Limousines. The building features two stories totaling 11,290 square feet of space. The D subway line at New Utrecht Avenue/79th Street is located around a half mile away and the B1 bus route on 86th Street/15th Avenue is located right across the street.