There was a 7% increase in office building sales in NYC in Q2 2012 over the previous quarter, PropertyShark’s commercial real estate quarterly report shows. This accounted for $2.83 billion in volume, which was slightly more than what Q1 2012 realized ($2.52 billion).
A higher number of transactions compensated for the fact that prices paid for commercial properties were generally lower. For example, the ten most expensive office buildings had lower price tags than last year, ranging from $100 million to almost $300 million.
What is noteworthy, however, is that the biggest transaction–the office building at 14 Wall Street and a New York City landmark at the same time–was an all-cash purchase that astonished the real estate commercial market in April.
Take a look at how much investors paid for these ten priciest office buildings in Q2 2012:
|14 Wall Street, Manhattan||$294,408,183||04-Apr-2012|
|4 New York Plaza, Manhattan||$270,000,000||23-May-2012|
|212 Broadway, Manhattan||$230,000,000||29-May-2012|
|233 Spring Street, Manhattan/161 Ave of the Americas, Manhattan||$200,000,000||08-May-2012|
|1372 Broadway, Manhattan||$200,000,000||11-Jun-2012|
|1372 Broadway, Manhattan||$166,271,844||11-Jun-2012|
|128 Prince Street, Manhattan & 130 Prince Street, Manhattan||$150,000,000||31-May-2012|
|148 Lafayette Street, Manhattan||$140,500,000||10-May-2012|
|1370 Broadway, Manhattan||$126,500,000||18-Apr-2012|
|323 Hudson Street, Manhattan||$110,000,000||24-Apr-2012|