Top 5 Office Building Sales

PropertyShark compiled the top 5 sales in office recorded in September 2019 in New York City.
Source: PropertyShark, a Yardi Systems Inc. company
  1. 711 Fifth Ave., Manhattan

    711 Fifth Ave., Manhattan
    Sale Price: $909,267,500

Totaling 313,200 square feet, The Coca-Cola Co. Building was developed in 1927. Situated in the Plaza District, the 18-story asset was purchased by SHVO from Wafra Capital Partners, according to Yardi Matrix. Current tenants include The Polo Bar, Ralph Lauren, Breguet Boutique and National Geographic. The building was renovated in 2013 and features 20,000 square feet of retail located underground. The office portion is from floors four to 18. According to Yardi Matrix, there are five available spaces for lease totaling 67,360 square feet.

  1. 345 Park Ave. S., Manhattan
    Sale Price: $344,500,000

Situated in Gramercy Park, the 13-story building was originally constructed in 1912 and underwent cosmetic renovations in 1992, 1999 and 2004. It was then completely renovated in 2019. Comprising 309,000 square feet, the building has 22,345 square feet of that space dedicated to retail on the ground level. Current tenants include Bank of America and Upland. According to Yardi Matrix, there are currently four available spaces for lease totaling 66,475 square feet. Nearby transportation options include the 6 subway line at the corner of Park Avenue and 28th Street, or the M1 bus route at the intersection of 25th Street and Park Avenue.

  1. 300 E. 42nd St., Manhattan
    Sale Price: $122,500,000

Currently leased to tenants such as International Language Services, Ashkin Law Firm, Sussex Wines & Spirits and AugustinPartners, this property located in Murray Hill comprises 221,479 square feet. The building was developed in 1964 and includes 15,000 square feet of retail space on the first floor. The 17-story asset currently has 176,861 square feet available for lease, according to Yardi Matrix. According to The New York Times, the property was purchased by a joint venture between Somerset Partners and Meadow Partners, while the seller was ULM Holding.

  1. 2-34 Beach 102nd St., Queens
    Sale Price: $11,250,000

This two-story asset in the Seaside neighborhood features three commercial units totaling 23,310 square feet. The building was constructed in 1980 and last updated in 2000. The property is leased to Timothy F. Rohrs Physical Therapy P.C. Nearby transportation options include the A subway line at the corner of Beach 98th Street and Rockaway Freeway, or the bus line situated at Beach 102nd and Rockaway Beach Boulevard.

  1. 109 E. 31st St., Manhattan
    Sale Price: $10,750,000

Situated in the NoMad District, this property comprises 14,053 square feet across seven stories. Nearby transportation includes the 6 subway line at the intersection of Park Avenue and 32nd Street, as well as the M101 bus route at the corner of Lexington Avenue and 31st Street. The building was constructed in 1915 and last upgraded in 1980, housing two commercial units.