Top 5 Office Building Sales

PropertyShark compiled the top 5 sales in office for October 2017 in New York City.
Source: PropertyShark, a Yardi Systems Inc. company
Source: PropertyShark, a Yardi Systems Inc. company
  1. 249 W. 17th St., Manhattan

    249 W. 17th St., Manhattan
    Sale Price: $514,100,000

Sold along with 245 W. 17th St. and 216-21 W. 18th St., this LEED Gold certified property is fully leased by Room & Board and Twitter. Columbia Property Trust purchased the six-story building from New York REIT. The transaction was subject to a $146.1 million self-financed portfolio loan, according to Yardi Matrix. The 145,000-square-foot asset was an adaptive reuse project, going from a 1909-built industrial property converted to office in 2014.

  1. 685 Third Ave., Manhattan
    Sale Price: $467,500,000

Unizo Holdings acquired this 646,422-square-foot, LEED certified asset from TIAA. Offering 31 stories, the property formerly known as the Winstar Building is 92.3 percent occupied. Major tenants include ICR, TD Bank, Starbucks, NewOak and the Embassy of Samoa. The mixed-use building includes 26,190 square feet of retail on the first floor, common area Wi-Fi, 13 elevators and above standard ceiling heights. Constructed in 1960, the asset was completely renovated in 2008 and underwent cosmetic upgrades in 2013.

  1. 19 W. 44th St., Manhattan
    Sale Price: $195,000,000

Dubbed The Berkeley Building, this 19-story property was bought by Savanna from Deka Immobilien in a transaction that was subject to a $102.4 million loan held by Mesa West Capital, according to Yardi Matrix. The building is leased to more than 40 different tenants and currently has six available spaces. Totaling 292,968 square feet, the asset is LEED Silver certified and offers 12,000 square feet of first floor retail. The building was constructed in 1916, with renovations completed in 2014.

  1. 16 Court St., Brooklyn
    Sale Price: $171,000,000

Comprising 35 stories across 330,000 square feet, this Class A high-rise was purchased by CIM Group from SL Green Realty. The acquisition was subject to a $111 million loan held by Barclays and CitiBank, according to Yardi Matrix. Originally constructed in 1928, the asset last underwent renovations in 2009 and includes 15,940 square feet of ground and second floor retail. Housing 102 commercial units, the property is 6.7 percent vacant and currently has eight spaces available.

  1. 67 Irving Place, Manhattan
    Sale Price: $44,000,000

Housing 12 commercial units totaling 49,125 square feet, this 12-story office building was built in 1910. Located in Gramercy Park, the property is within close proximity to the green subway lines 4, 5, 6 and yellow subway lines N, Q, R.