Top 5 Office Building Sales—December 2020
- Jan 21, 2021
- 835 Madison Ave., Manhattan
Sale Price: $18,279,000
Swiss luxury retailer Akris is the new owner of the five-story, 9,072-square-foot property on Manhattan’s renowned shopping corridor. The property includes 4,842 square feet of office and 4,230 square feet of retail space. In separate transactions closed on the same day, Akris also acquired the 8,315-square-foot building at 837 Madison Ave. for $13.9 million and the 16,201-square-foot property at 831 Madison Ave. for $12.9 million.
- 147 E. 26th St., Manhattan
Sale Price: $10,650,000
The 14,814-square-foot professional office building traded in early December. An entity affiliated with Manhattan Specialty Care acquired the three-story property in Kips Bay. Developed in 1945, the building includes three commercial units and it last changed hands in 1975. Nearby transportation options include the no. 6 subway line accessible on the SE corner of Park Avenue and 28th Street, while the M103 bus line is accessible at the intersection of Third Avenue and 26th Street.
- 1318 60th St., Brooklyn
Sale Price: $5,200,000
An entity affiliated with the Zichron Chana Charitable Foundation sold the 5,080-square-foot building in Borough Park. The asset last changed hands in an arms-length transaction in 1986. Originally completed in 1931, the two-story property underwent upgrades in 2004 and features two commercial units. The building is home to the executive offices of the Hebrew Academy for Special Children. The closest subway station is at the NW corner of 14th Avenue and 61st Street, providing access to the D/N lines.
- 825 57th St., Brooklyn
Sale Price: $5,130,000
The seller of the 21,400-square-foot mixed-use building in Kensington was an entity connected to Long Xing Realty. The last time the property traded in an arms-length transaction was in 1985. Constructed in 2003, the six-story property encompasses 9,100 square feet of residential space, 7,200 square feet of office and 2,500 square feet of garage space, as well as 2,600 square feet of space designated for other uses. Tenants include Express Employment Agency and Simple Growth Comprehensive day care center.
- 176 Central Ave., Brooklyn
Sale Price: $4,250,000
The entity behind R.G. Ortiz Funeral Home sold the 6,762-square-foot property to an entity affiliated with LW Developers. The two-story building, completed in 1931, includes 3,900 commercial and 2,275 square feet of residential space. The new owner completed the deal with help from a $4.5 million acquisition loan originated by Arnav Industries Inc. and Profit Sharing Plan & Trust. Nearby transportation options include the M subway line on the NW corner of Myrtle Avenue and Cedar Street and the B54 bus line at the intersection of Myrtle Avenue and Hart Street.