Buildings for Sale:
Brookfield is weighing a sale of the retail at 685 Fifth Avenue.135 East 57th Street, is for sale A judge signed an order on Sept. 6 backdating Cohen’s eviction to his initial default on June 26. The Wallace family is now open to either a new reconstituted ground lease or even a full sale, with all options on the table.
Albert Monasebian and Nader Hakakian launched into workout talks after defaulting on the loan backed by 16 East 40th Street, a 12-story building. The partners quit making payments on the $32 million loan. They received a $35 million offer for 16 East 40th Street, a deal he expects to close in two months.
Buildings Sold:
Gencom paid $300 million to acquire the Thompson Central Park New York, a 587-room luxury hotel at 119 West 56th Street, from GFI Hospitality and Elliott Management. Affinius Capital and funds managed by AB CarVal. GFI and Elliott paid around $420 million to buy the then 729-key hotel in 2019, then spent $100 million converting a portion of the rooms into for-sale condos.Vanbarton in contract to buy 77 Water Street, a 26-story building for $95M. The seller is a group of investors, including Sage. The price works out to $175 per square foot for the 542,000-square-foot property, which could create as many as 600 rental units.
Capstone Equities and AmTrust RE are in contract to buy 360 Lexington Avenue office tower The 24-story office tower is reportedly set to go for $65 million. Savanna purchased the 269,000 SF for $180 million. Capstone will remain to manage the building. The building is around 60% leased with its largest tenant renting 30,000 SF.
Jay Group paid $75 million to Pearl Realty Management for a six-parcel development site at 102 Fleet Place and 275 Flatbush Avenue. The sale was completed via three transactions: a $50 million deal for the northern four lots, a $12.5 million deal for the two southern lots and a $12.5 million air rights transfer from 147 Pearl Street.
Extell Development is in contract to sell its former Harlem Headquarters development site for $70 million. The contract was flagged in a listing with the Tel Aviv Stock Exchange.
NYC Housing Partnership and Jonathan Rose Cos. have sold a row of ten Harlem rental buildings to Metropolitan Realty Group for $64 million. The contiguous properties at 107-145 West 135th Street span a total of 164,000 SF and all are six stories.
KPG sold 446 Broadway for $52 million to Spear Street Capital.
Related Fund Management sold 321 West 44th Street to a venture of Namdar Realty Group, Empire Capital and Mason Asset Management for less than $40.5 million a 73 percent discount on its 2018 purchase price of $153 million, the 181,000-square-foot or $224 per square foot. The transaction was a short sale.
Duell Family sold property at 673 Madison Avenue to Friedland for $36 Million.
Alchemy-ABR Investment Partners paid $33.7 million for a development site. The 88,000-square-foot property. The sale includes air rights from two neighboring properties.
Pro-H Development plans to build a residential condo at the site at 842 Sixth Avenue from Developer Robert Chun for $30 million.
Madison Realty Capital acquired 4452 Broadway from HAP Investment Developers' a mixed-use out of bankruptcy for $26.5 million. HAP bought the site in 2013 for $7.3 million and in 2015 planned a 241-unit property.
253 West 24th Street was sold to Red Apple Group for $22.5 million. The 59,000 SF property is known as the Jeanne D’Arc Home for Friendless French Girls and received approval from the New York State Attorney General.
White Street Partners acquired 80 White Street for $21 million. The seller was General Hardware Manufacturing. Built in 1867 the warehouse is under the protection of the NYC Landmarks Preservation Commission.
A pair of LLCs signed to doctors Yosef Soleymani and Joseph Soufer sold 958 Madison Avenue, a mixed-use Upper East Side property, for $15.6 million to Wringfield LLC. The five-story, 10,000 SF property was first constructed in 1878 and renovated in 2019.
