Top 5 Office Building Sales—February 2021
- Mar 26, 2021
- 500 W. 57th St., Manhattan
Sale Price: $26,750,000
Extell Development sold the 24,000-square-foot Hell’s Kitchen asset to CBS Broadcasting. The seven-story building previously changed hands in 2017 when Extell paid $19 million for the brick-façade property. The newly acquired lot brings CBS’ massive Hell’s Kitchen campus to 1 million square feet, The Real Deal reported. The 1913-built structure previously served as the home of Addiction Care Interventions Chemical Dependency Treatment Centers.
- 132 E. 70th St., Manhattan
Sale Price: $7,250,000
The five-story townhouse encompasses more than 7,200 square feet and includes an additional 10,000 buildable square footage, subject to requirements allowable in a Landmark District. Built in 1914 by architect Herbert M. Baer, the building was constructed for Julius Goldman, a prominent lawyer and son of Marcus Goldman, founder of Goldman Sachs. The first two floors of the asset are commercially zoned. Amenities include an elevator, a courtyard/garden area, double-gated entrance, a terrace on the fifth floor and storage space in the cellar.
- 11-03 45th Ave., Queens
Sale Price: $5,238,500
Owned by a partnership between a private investor and an entity affiliated with Century Development Group, the three-story property located in Hunters Point was originally built in 1959 as an industrial structure. Situated between 44th Drive and 45th Avenue, the building once served as a facility where Dannon yogurt container tops were made and was later used by a jewelry manufacturer. In 2001, the building underwent was repurposed for office use and is now leased to tenants including Dorsky Gallery Curatorial Programs and Design Development NYC.
- 1010 Gates Ave., Brooklyn
Sale Price: $2,970,000
The 8,400-square-foot Bedford-Stuyvesant property changed hands in early February. The two-story building includes one 5,300-square-foot commercial unit and 3,100 storage space. Once the home of the Neighborhood Housing Services of Bedford-Stuyvesant, the property previously changed hands for $2.5 million in 2019. Prior to that, in 2015, the not-for-profit organization revealed plans to add five stories of affordable apartments to the two-story structure, which eventually didn’t materialize.
- 55-28 Main St., Queens
Sale Price: $2,200,000
The 3,350-square-foot Flushing building sold along with the adjacent, 3,036-square-foot property located at 55-26 Main St. The seller provided $1.4 million in acquisition financing to facilitate the deal. The portfolio previously changed hands in 1996. The first property, a three-story building featuring three commercial units, was developed in 1961. The second property is also a three-story building—developed in 1950, the structure includes two residential units totaling 2,004 square feet.