Top 5 Office Building Sales

PropertyShark compiled the top 5 sales in office recorded in July 2018 in New York City.
Source: PropertyShark, a Yardi Systems Inc. company
  1. 125 W. End Ave., Manhattan
    125 W. End Ave., Manhattan

    Sale Price: $175,000,000

This 401,972-square-foot office property was purchased by Silverstein Properties from The Walt Disney Co. The sale was part of a $1.2 billion portfolio transaction that also included the Barbara Walters Building, 77 W. 66th St., 147 Columbia Ave., 30 W. 67th St. and 149 Columbia Ave., according to Yardi Matrix. The sale was funded by a $715 million loan held by Deutsche Bank. The building offers seven stories and was originally constructed in 1929, with upgrades made in 1989. Features include 30 parking spaces and 2,000 square feet of retail. The building is fully occupied by the American Broadcasting Co.

  1. 637 Madison Ave., Manhattan
    Sale Price: $153,000,000

Located in the Lenox Hill neighborhood, this 19-story building was constructed in 1958 and last renovated in 1984. The property is situated on a 9,087-square-foot lot and comprises 33 commercial units totaling 141,993 square feet of office and 7,888 square feet of retail.

  1. 219 E. 42nd St., Manhattan
    Sale Price: $142,000,000

Dubbed the Pfizer Building, this 1905-built property was purchased by Alexandria Real Estate Equities. Pfizer is the sole tenant of the building and was also the seller, according to Yardi Matrix. The sale was part of a $370 million portfolio transaction that incorporated this property as well as Pfizer World Headquarters. The deal was subject to a $125 million loan held by Morgan Stanley. The nine-story asset features seven passenger elevators, above standard ceiling heights and common area Wi-Fi.

  1. 240 W. 40th St., Manhattan
    Sale Price: $105,000,000

Sioni Group acquired this 12-story building from Olmstead Properties. The sale was subject to a $62 million loan held by Signature Bank, according to Yardi Matrix. Current tenants include Donna Karan New York, Dunkin’ Donuts, Guy & Gallard, Popeyes Louisiana Kitchen and Boi Noodles House. The 1923-built asset comprises 159,774 square feet and underwent cosmetic renovations in 2004 and 2009. Features of the transit-oriented building include common area Wi-Fi, four passenger elevators and above standard ceiling heights.

  1. 9 E. 89th St., Manhattan
    Sale Price: $10,905,000

Estimated to have been built in 1902, this six-story property offers one commercial unit totaling 10,292 square feet. Situated on a 2,324-square-foot lot in the neighborhood of Carnegie Hill, the asset is within close proximity to the 4/5/6 subway lines at the intersection of Lexington Avenue and 86th Street, as well as the M1-M4 bus routes on the corner of Madison Avenue and East 89th Street.