Buildings for Sale:
130 Bowery Street is being auctioned, with an auction scheduled for a week after February 4th if competing bids are submitted. The 33,000-square-foot building has been part of the National Register of Historic Places since 1980.Spitzer Enterprises and Winter Properties are marketing the 208-unit rental property at 800 Fifth Avenue. Likely buyers to turn the site into the latest high-end condo building. The developer could build approximately 350,000 square feet.
Taconic Partners is listing its office tower at 817 Broadway for sale or recapitalization. The building is 92% leased.
A joint venture between George Comfort & Sons, Jamestown and Loeb Partners Realty is looking to sell a stake in 63 Madison Avenue that would value it at roughly $400 million. The 860,000-square-foot building has a large block of empty space and the new capital will help pay for the costs of signing tenants. The 15-story building is 76% leased.
Buildings Sold:
Blackstone is purchasing the Kimpton Hotel Eventi in Chelsea for $175 million. The seller is DLJ Real Estate Capital Partners. The property is located at 851 Sixth Avenue, at the corner of West 30th Street. The hotel has 292 rooms, three restaurants, a 450-spot parking garage and 45,000 square feet of meeting space.Williams Equities bought the 300,000-square-foot property at 470 Park Avenue South for $147.5 million, 40% less than its last sale price or $492 per square foot. The sellers are SJP Properties and PGIM Real Estate.
American Exchange Group has taken ownership of 1375 Broadway from Savanna. It bought the $200 million debt from Aareal Capital.
Paramount Group sold 45% interest in 900 Third Avenue for the 600,000-square-foot property, which was valued at $210 million by the transaction. Paramount owns/remains a 55% interest and will continue to be in charge of leasing.
Katan Realty Group, Kohan Retail Investment Group and Ilya Mikhailov acquired 345 Seventh Avenue in Midtown, Manhattan for $85 million. The price on the 25-story, 190,000-square-foot office building is $447 per square foot. Empire Capital and Igal Namdar acquired the office property in Midtown, along with three smaller buildings for $107 million in 2021.
60 Guilders and Sentry purchased 1370 Broadway in Midtown South for $75.5 million.
BCN’s Nassi is in contract to buy the six-story Class C office building at 350 West 38th Street from Lai Enterprises for about $300 per square foot. He plans to add six floors and 20,000 square feet to the 1920 building, converting it to 55 apartments and commercial space. The project is eligible for 485x because Nassi is expanding the building by more than 50%.
Stefan pays $67 million for 24 West 57th Street. The property is a sizable site that has the potential for more than 140,000 buildable square feet.
Timber Equities is in contract to purchase the four-building parcel at 328-343 West 25th Street for $48.3 million. The deal requires state law approval for religious organizations and nonprofits. Timber already put down a $2.4 million deposit. The firm has 90 days to close an all-cash deal for the site, which spans three adjacent parcels with a combined lot size of 20,000 square feet and is zoned for up to 128,400 square feet of floor space.
