Top 5 Office Building Sales

PropertyShark compiled the top 5 sales in office recorded in September 2018 in New York City.
Source: PropertyShark, a Yardi Systems Inc. company
  1. 183 Madison Ave., Manhattan
    183 Madison Ave., Manhattan

    Sale Price: $219,943,269

Built in 1925, this 19-story property comprises 274,413 square feet. Known as The Madison – Belmont Building, the asset was purchased by APF Properties from Tishman Speyer, according to Yardi Matrix. The sale was subject to a $173.4 million loan held by LoanCore Capital. The property last underwent renovations in 2011 and features retail space on floors one through three and office space on floors four through 19. Current tenants include Destination Media, ClearSlide, Chantelle, Mundi Westport Group, World Childhood Foundation and Francoise Bollack Architects. 

  1. 41 W. 57th St., Manhattan
    Sale Price: $80,000,000

Rising eight stories, this asset comprises a total of 27,847 square feet, with 3,400 square feet of retail space on the eighth floor. According to Yardi Matrix, the property was built in 1925 and underwent cosmetic renovations in 1989. The building is subject to a 49-year unsubordinated net ground lease held by Asuman G. Polat, expiring in 2047. The last known owner was Sedesco, which purchased the property in November 2017 from the Hakim Organization, for $27.9 million.

  1. 530-540 Avenue of the Americas, Manhattan
    Sale Price: $52,750,000

Located in the Flatiron District, this four-story building features 8,000 square feet of retail, 4,209 square feet of office and 3,635 square feet of residential space. Estimated to have been built in 1900, the property was last altered in 2011. Neighborhood transportation options include the F/M, L, and 1/2/3 subway lines at the corner of Sixth Avenue and 14th Street.

  1. 161 Bowery, Manhattan
    Sale Price: $24,250,000

Situated on a 2,664-square-foot lot in the Lower East Side, the property offers access to the J/Z subway line at the corner of Bowery and Delancey Street, as well as the M103 bus route at the intersection of Bowery and Kenmare Street. The building features 13,921 square feet of office and 5,073 square feet of retail space. The 1920-built asset was last renovated in 1989.

  1. 8501 Seventh Ave., Brooklyn
    Sale Price: $1,500,000

 Home to the Bay Ridge Endoscopy Health Center, this one-story building is located in the neighborhood of Dyker Heights, with convenient access to the B1, X28 and X38 bus routes at the intersection of 86th Street and Seventh Avenue. The property was built in 1926 and offers 2,900 square feet of office space.