- Feb 18, 2016
Here are NYC’s top 10 commercial deals recorded in January 2016, a list dominated by both office and retail buildings in Manhattan:
#10 329-331 Canal St., Manhattan
Sale price: $24,000,000
Buyer: 6 Greene Realty Owner, LLC
Seller: 6 Greene Street Associates, LLC
This loft building located in SoHo’s Cast Iron Historic District offers 13,500 office square footage. It was acquired by 6 Greene Street Associates LLC in 1995 for an undisclosed price.
Sale price: $30,000,000
Buyer: CA 522 Fulton LLC, c/o Crown Acquisitions Inc.
Seller: Bldg 522 Fulton LLC
Crown Acquisitions paid a combined $30 million for the two commercial properties located in Downtown Brooklyn. The two buildings have a total square footage of more than 55,000 and both can be further developed.
#8 316 Fifth Ave., Manhattan
Sale price: $32,000,000
Buyer: 5th Ave Gateway Land, LLC
Seller: Ob Realty LLC & A And I Realty LLC & Ls Owner LLC
Located on Fifth Avenue in Koreatown, this 26-unit office building has a total square footage of close to 15,000. The property, also known as the Kaskel Building, offers both retail and office space.
#7 123-127 Lafayette St., Manhattan
Sale price: $33,500,000
Buyer: 123 Lafayette LLC, C/P First Atlantic Real Estate
Seller: 123 Lafayette Investor LLC & Stellar 123 Lafayette LLC
Purchased by the investment firm First Atlantic Real Estate, based in New York, the building is located in trending New York City neighborhood SoHo. Built around 1920, it has a total square footage of 16,380.
Sale price: $40,750,000
Buyer: Jcmc West 34 Owner LLC
Seller: Cornell 251-253 LLC & Jcmc 251-253 LLC
Part of the Chetrit Group and Cornell Realty Management’s assemblage at 34th Street, this deal included two mixed-use properties. Building permit activity recorded in February 2016 shows that scaffolding and sidewalk sheds are being installed at the site.
#5 361-371 W. 12 St., Manhattan
Sale price: $71,000,000
Buyer: 771 Washington Street Investor LLC, C/O Toms Capital LLC
Seller: Alan Washington LLC
Currently recorded as Loft with Retail Stores, the property was previously bought by Alan Washington LLC for $28M in 2007.
Sale price: $78,000,000
Buyer: Bridgeton West 13 Fee LLC
Seller: 52 West 13th P, LLC
The Jade Hotel, located in Greenwich Village, was auctioned by its owners to settle a suit, as reported by the Commercial Observer. Bridgeton Holdings is the new owner, having paid $78 million. Several other Manhattan hotels will be auctioned as part of this settlement.
#3 139 Spring St., #1, Manhattan
Sale price: $115,388,000
Buyer: Spring & Wooster Retail, LLC, c/o Invesco Advisers Inc.
Seller: Spring & Wooster Company, LLC
This retail condo unit sold for a record-breaking price and is currently home to Chanel on one of the most expensive retail corridors in Manhattan. Besides the retail unit that was purchased by Invesco Advisers Inc., the building also features nine residential units.
#2 490 Broadway, Manhattan
Sale price: $140,000,000
Buyer: Ponte Gadea New York, LLC
Seller: Broadway Landmark Corp.
Another building in SoHo that made this list is 490 Broadway. It was built in 1857 and is known as the Haughwout Building. It is currently a New York City landmark. The new owner, Ponte Gadea, is a real estate investment firm owned by billionaire Amancio Ortega.
#1 427-429 10 Ave., Manhattan
Sale price: $152,268,750
Buyer: 50 Hymc Owner LLC
Seller: McDonald’s Corp.
This diner sold for an impressive amount, since it was the last parcel needed by Related Cos. in order to build 50 Hudson Yards, an office tower that upon completion will rise to 62 stories.