Top 5 Office Building Sales

PropertyShark compiled the top 5 sales in office recorded in February 2019 in New York City.
Source: PropertyShark, a Yardi Systems Inc. company
  1. 670 Broadway, Manhattan
    670 Broadway, Manhattan

    Sale Price: $130,500,000

Purchased by Cara Investment GmbH from Paramount Group, this 75,000-square-foot building in the East Village stands five stories. Originally constructed in 1900, the property underwent cosmetic renovations in 2016. According to Yardi Matrix, the sale was subject to a $66 million self-financed loan. Current tenants at the asset include Zero Bond, Design Research, Bandier and Equinox. There is still one space on the fourth floor available for lease, totaling 13,143 square feet. Of the total square footage, 41,250 is designated for retail.

  1. 406 Pine St., Brooklyn
    Sale Price: $24,150,000

Fully leased by the City of New York, this government office building comprises 61,200 square feet across four stories. Located in the neighborhood of Cypress Hills, the 1969-built property was sold by FBE Limited, which purchased the building back in April 2016 for $18.5 million, from Nager Management, according to Yardi Matrix. Nearby transportation options include the A/C subway lines at the corner of Euclid and Pitkin Avenues.

  1. 384 Fifth Ave., Manhattan
    Sale Price: $23,500,000

Built in 1906 and last upgraded in 1984, this Koreatown property offers eight commercial units totaling 24,600 square feet of office and 3,400 square feet of retail space. The asset is within walking distance of Grand Central Terminal and Penn Station, with access to the B/D/F/M and Q/R subway lines at the corner of Sixth Avenue and 35th Street. The eight-story building is situated on a 3,583-square-foot lot.

  1. 126 E. 38th St., Manhattan
    Sale Price: $11,000,000

Offering one commercial unit totaling 6,283 square feet, this three-story Murray Hill building is estimated to have been built in 1920. Situated on a 2,716-square-foot lot, the asset is home to Alley Music Corp. Nearby transportation options include the G, S, 4/5/6 and 7 subway lines at the corner of Park Avenue and 42nd Street, as well as the M101, M102 and M103 bus routes at the intersection of Lexington Avenue and East 37th Street.

  1. 346 W. 44th St., Manhattan
    Sale Price: $5,750,000

Located on a 2,510-square-foot lot in the neighborhood of Clinton, this three-story building is estimated to have been built in 1930 and was last altered in 1988. Comprising three commercial units totaling 4,835 square feet, the property offers convenient access to the A/C/E, N/Q/R, S, 1/2/3 and 7 subway lines at the corner of Eighth Avenue and 44th Street.