Top 5 Office Building Sales

PropertyShark compiled the top 5 sales in office recorded in August 2018 in New York City.
Source: PropertyShark, a Yardi Systems Inc. company
  1. 536 W. 26th St., Manhattan
    536 W. 26th St., Manhattan

    Sale Price: $257,000,000

Offering three commercial units totaling 126,707 square feet, this property is located in Chelsea, with access to the 7 subway line at the intersection of Hudson Boulevard East between 33rd and 34th Streets, as well as the M12 bus at the corner of 11th Avenue and West 26th Street. The asset features 52,926 square feet of office, 12,000 square feet of retail, and 61,781 square feet of alternative space.

  1. 82-11, 82-13 37th Ave., Queens
    Sale Price: $55,900,000

Standing nine stories on a 10,000-aquare-foot lot, this property was built in 1938 and last altered in 1992. Located in the neighborhood of Jackson Heights, the asset is just 0.2 miles away from the 7 subway line at the corner of 82nd Street and Roosevelt Avenue. The building comprises 17 commercial units, featuring 27,306 square feet of office, 7,982 square feet of retail and 20,492 square feet of garage space.

  1. 10-12 E. 33rd St., Manhattan
    Sale Price: $46,284,125

Purchased by Marcus Partners from Dalan Management, the building comprises 26,967 square feet across 12 stories. Built in 1910, the property is located in Manhattan’s Gramercy Park neighborhood, located within a quarter mile of two subway stations. The asset last underwent renovations in 2011 and 2016, and includes 2,000 square feet of ground level retail. According to Yardi Matrix, this sale was part of a portfolio transaction that also included 10 E. 33rd St., which totals 29,757 square feet of office and retail space. The sale was funded by a $35 million loan held by M&T Bank.

  1. 770 Madison Ave., Manhattan
    Sale Price: $31,000,000

This five-story property is located on a 1,634-square-foot lot in Lenox Hill. The building features 3,981 square feet of office and 2,858 square feet of retail space across seven commercial units. Last altered in 1988, the asset is located within close proximity to the 6 subway line at the corner of Lexington Avenue and 68th Street.

  1. 29-31 Leonard St., 198 W. Broadway, Manhattan
    Sale Price: $24,500,000

 Estimated to have been built in 1915, this one-story office property features 800 square feet. Located in the neighborhood of TriBeCa, the asset is situated within close proximity to the 1 subway line at the corner of Varick and Franklin Streets. The building is home to Transit Trading Corp.