A roundup of recent major transactions put together by PropertyShark
Sale Price: $22,200,000
An entity connected to IHL Group, a women and children’s apparel company, has purchased the 88,100-square-foot office property in Manhattan’s Garment District. The seller is David Berley’s Walter & Samuels, Inc., that owned the 12-story asset since 1975. The office building, originally built in 1910, includes 6,000 square feet of retail space and is occupied by multiple tenants, such as DataVision, WeWork and Manhattan Fencing Center.
Sale Price: $9,600,000
A private investor affiliated with Regeneron Pharmaceuticals acquired the 12,900-square-foot office building in Manhattan’s Tribeca neighborhood. Columbia Pacific Advisors sold the five-story property, that last changed hands in 2018 for $14 million, from seller Dr. Coleman LipoStructure Inc., currently a tenant at the property.
Sale Price: $5,508,000
Bank of America sold the 5,376-square-foot office building, together with an adjacent parcel at 884 Quincy St., situated within Brooklyn’s neighborhood of Bedford Stuyvesant. The buyer is an entity affiliated with Lian Wu Shao’s New World Mall. The one-story office property is originally built in 1918 and served as one of Bank of America’s locations.
Sale Price: $2,300,000
A private seller sold the 2,960-square-foot office building in Queens’ Richmond Hill to another private investor, affiliated with a Hicksville, N.Y.-based family medicine company. The office property became subject to a $940,000 acquisition loan held by Avid Commercial, and another $1.2 million loan originated by Morgan Stanley Bank. The two-story property is originally built in 1930 and last altered in 1996.
Sale Price: $1,600,000
An entity affiliated with NineDot Energy, acquired the 4,000-square-foot office property in Brooklyn’s Marine Park neighborhood. The seller is a private investor. The property became subject to a $7.2 million loan held by SolaREIT, a financing solutions company providing capital for solar and battery energy storage developers and companies.
The post Top 5 NYC Office Building Sales—March 2024 appeared first on Commercial Property Executive.
In the simplest form, a ground lease is a long-term net lease (usually 49 years or 99 years) of land including any improvements on the said land. Assets that can be subject to a ground lease include but are not limited to, vacant land, office buildings, and large residential buildings.
ground lease, ground leases, net lease, ground leases 101, ground lease nyc, skyline properties, skyline properties nyc, Robert Khodadadian, investment sales, broker, commercial real estate, skyline properties, commercial real estate, NYC real estate, ground lease, Skyline Properties, Skyline NYC, Skyline Properties NYC, New York City Real Estate, ground leases, commercial buildings, apartment buildings, townhouses, mixed use investment building, mixed use user buildings, live plus income buildings, industrial properties, NYC Real Estate, Real estate investment, commercial real estate, robert khodadadian, skyline properties, ground lease, net lease, investment sales, brokerage, manhattan real estate, off market broker, daniel shirazi, Off-market real estate
Read MoreNew York, News, Northeast, Office (NYC Spotlight), PropertyShark Commercial Property Executive