New York Buildings sold
San Francisco-based Carmel Partners officially completed the purchase of a downtown development site for $171 million. The transaction also includes development rights.Potential buyers are in early discussions interested in buying the Diamond Center of America, a 16-story office tower that is being marketed as a potential redevelopment site. The building, located at 36-42 West 47th Street, is home to some of the top jewelry merchants in the world, but the property has a number of leases set to expire and is seen as a potential site for anything from new commercial development to residential or hospitality sites.
An investor who owns Grand Central Terminal, offered $400 million for the adjoining block on which the developer plans to build One Vanderbilt.
A sovereign fund that manages Norway's substantial oil wealth is making a move for 1095 Sixth Avenue. A deal for the tower, expected to get up to $2.25 billion, would be the biggest single office asset sale in New York City since the GM Building traded hands in 2008.
The Sofitel hotel in Midtown is being sold to an Asian real estate investor for $272 million. A partnership will sell the 398-room hotel at 45 West 44th Street to a Hong Kong-listed firm. Goldman Sachs and GEM paid $255 million for a 75-percent stake in the Midtown hotel and another Sofitel property in Philadelphia in 2006.
Norges Bank Investment Management, an arm of the central bank of Norway, has reached an agreement to purchase a 45 percent interest in 601 Lexington Avenue, along with equal shares in two Boston properties, from real estate investment trust for $1.5 billion in cash. Norges Bank is also picking up an equal interest share in Boston's Atlantic Wharf Office Building and 100 Federal Street as part of the deal. Following the agreement, Norges Bank and Boston Properties will form a joint venture for each of the three properties, with the latter retaining property and leasing management.
The Trump Soho is allegedly being sold. CIM Group, one of the lenders to the upscale condominium-hotel, is foreclosing on the property and plans to auction it off. CIM Group holds a junior loan on the property and has taken control of the building through a foreclosure process.
A Chinese development firm paid $128 million for the United Charities Building at 287 Park Avenue South. The 93,300-square-foot office property which is one of the last Charity Row holdouts, along a stretch of Park Avenue South, that has gone residential.
Murray Hill Properties is in contract to buy 180 Maiden Lane. SL Green and Joseph Moinian are looking to unload the 1.2 million-square-foot tower, which is only sparsely occupied. While the agreed-upon price is still unclear, it seems to break down to just below $450 per square foot.
Extell Development's sold off the Midtown development site at the center of the firm's lawsuit with the landlord Sheldon Solow.
A property-investment arm of Deutsche Asset and Wealth Management has acquired a 775,000-square-foot office building at 212-222 Broadway in Lower Manhattan for $502 million.
A Real estate mogul will pay more than $190 million to buy Times Square's Hotel Carter.
Mount Sinai Medical Center bought seven commercial condominiums at the base of the Mobil Building for $110.6 million. One of the city's oldest landlords and the owner of the fee position in the building, along with Hiro Real Estate, which owned the leasehold, provided the financing for the deal.
A real estate investment trust that already owns 27 hotels across the U.S., purchased the Hilton Garden Inn/Times Square Central for $127.2 million.
A Real estate crowdfunding startup closed on the acquisition of a 15-story rental building at 17 John Street for $85.3 million. The sum included more than $25 million in crowd funded equity.
A Minnesota-based insurance firm sold its 49 percent stake in a 26-story Financial District office building at 77 Water Street for $117.6 million. The William Kaufman Organization owns a 51 percent stake and controlling interest in the 612,237-square-foot property, which is valued at more than $235 million. A Financial giant net-leased the building's total space about 10 years ago.
NYC Buildings For Sale
The Kaufman Organization has put its 27 West 24th Street property, which the company bought in 2012 for $55.5 million, up for sale.
John Catsimatidis, former New York City mayoral candidate and CEO of the Red Apple Group, has put the six-story, mixed-use building in Midtown West that formerly housed a Lexus showroom on the market.
