Top 5 NYC Office Building Sales—March 2021
- Apr 23, 2021
- 211 Centre St., Manhattan
Sale Price: $7,440,438
Grand Machinery Exchange Inc. transferred an interest in the 46,700-square-foot building to an entity affiliated with the Museum of Chinese in America. The museum has leased space at the SoHo location since 2009, when architect Maya Lin designed the new space. The 211-215 Centre St. building is a converted industrial machine repair shop. The museum’s revamp amounted to a more than $8 million.
- 33 Bartlett St., Brooklyn
Sale Price: $5,000,000
The 7,500-square-foot Williamsburg property changed hands in a non-arms-length transaction, which was facilitated by a $3.8 million self-financed mortgage. The three-story property was subject to a $50 million financing package provided by Madison Realty Capital in 2019. The mortgage was also collateralized by a condo project including two adjacent seven-story buildings and ground-floor retail, as well as a vacant development site at 25 Bartlett St.
- 689 Fifth Ave., Brooklyn
Sale Price: $2,400,000
The 4,500-square-foot office building changed hands in a portfolio deal with the adjacent property located at 687 1/2 Fifth Ave. Ice Lender Holdings provided $3.5 million in acquisition financing. The second building encompasses 2,400 square feet and includes two residential units and one commercial unit. Both Greenwood Heights properties span three stories and are nearby transportation options including the R subway line accessible at the SW corner of Fourth and Prospect avenues.
- 73-09 Myrtle Ave., Queens
Sale Price: $2,250,000
The 6,500-square-foot professional building in Glendale changed hands between two private investors in early March. TD Bank facilitated the transaction by providing a $1.7 million acquisition loan. Completed in 1964, the two-story property underwent improvements in 2013 and includes four commercial units. Nearby transportation options include the J subway line accessible at the SE corner of Autumn and Jamaica avenues, as well as the Q55 bus line at the Myrtle Avenue and 73rd Street intersection.
- 1335 Ocean Parkway, Brooklyn
Sale Price: $1,950,000
The owner sold a 50 percent interest in the 4,500-square-foot mixed-use property in Midwood. Completed in 1930, the two-story professional building includes one commercial unit encompassing 2,790 square feet of office space and one 1,695-square-foot residential unit. The F subway line is less than a mile away, accessible at the SE corner of McDonald Avenue and Avenue M, while the B9 bus line can be reached at the intersection of Ocean Parkway South and Avenue M.