Top 5 Retail Space and Office Building Sales
- Jul 24, 2017
Top 5 retail space sales recorded in June 2017
- 182 Spring St., Manhattan
Sale Price: $23,565,000
Located in the Sullivan Thompson Historic District, this transit-oriented property offers quick access to the red, blue and orange subway lines. Purchased for $4,380 per square foot, the building features two commercial units, one office and one retail, at a total of 5,380 square feet across its two stories.
- 208 Canal St., Manhattan
Sale Price: $23,550,000
The six-story building is currently being occupied by East West Bank in Chinatown. The location offers quick access to the J, N, Q, R, Z and 6 subway lines, as it sits on the intersection of the yellow, green and brown lines.
- 162 Bowery, Manhattan
Sale Price: $23,500,000
Sold along with 164 Bowery and 166 Bowery, this property contains 2,500 square feet of retail, 1,215 square feet of storage and 3,305 square feet of residential. Featuring three stories, the property was last altered in 2003.
- 70-50 Queens Blvd., Queens
Sale Price: $11,800,000
Formerly the Entenmann’s Bakery Outlet, this 1970-built asset features one floor totaling 4,780 square feet in the neighborhood of Maspeth.
- 805 Washington Ave., Brooklyn
Sale Price: $9,500,000
Featuring eight commercial units at a total of 7,256 square feet, this one-story property is home to Key Food grocery store in the neighborhood of Prospect Heights.
Top 5 office building sales recorded in June 2017
- 815 Eighth Ave., Manhattan
Sale Price: $686,125,000
Originally constructed in 1987, this 49-story high-rise known as Worldwide Plaza is LEED-certified Gold. The property underwent cosmetic renovations in 2012 and features 120,000 square feet of retail on the first and second floors. The 2.1 million-square-foot asset is home to tenants such as WebMD, Starbucks, CBS, Rubenstein and Prometheus Global Media. Also included in the deal was the purchase of 350 W. 50th St., a 39-story, 626,821-square-foot building with 704 residential and three commercial units.
- 85 Broad St., Manhattan
Sale Price: $652,000,000
Purchased by Ivanhoe Cambridge, this financial district asset currently has seven rentable spaces available totaling 186,917 square feet with a 15.7 percent vacancy rate, according to Yardi Matrix. Housing a total of 30 floors and 1.2 million square feet of space, the property includes 7,000 square feet of retail on the first floor and underwent cosmetic renovations in 2013 and 2016. Companies like WeWork, MLA, JLL and Berkshire Hathaway Specialty Insurance all occupy space in the building.
- 354 E. 149th St., Bronx
Sale Price: $17,500,000
The two-story building in the Mott Haven neighborhood offers five commercial units with 25,150 square feet of office and 8,000 square feet of retail. Originally built in 1957, the property was last altered in 1998.
- 3050 W. 21st St., Brooklyn
Sale Price: $13,175,224
A.E. Construction sold this three-story, 69,600-square-foot asset to New York City Economic Development for $189.30 per square foot. The single-tenant building was constructed in 1925 and last altered in 2013.
- 1910 Arthur Ave., Bronx
Sale Price: $10,500,000
Located in the neighborhood of Tremont, this asset houses nine stories totaling 65,181 square feet and features eight commercial units.