The NYC retail market has seen not only rents climbing in 2015, but also some strong deals being closed, most of them in Manhattan but several of them in Queens and the Bronx as well.
1. 144 W 34 Street, Manhattan
Sale Price: $355,000,000
Located in Chelsea, this store building was previously sold in 2014 for $252,000,000 and it is currently rented out to an Old Navy store. Though spanning only 70,000 square feet, it can be expanded to almost 300,000 based on the property’s zoning. Vornado Realty is the new owner and has expanded its already massive retail portfolio with this acquisition.
2. 787 11 Avenue, Manhattan
Sale Price: $255,500,000
This commercial property, commonly referred to as the Ford Building was purchased by a partnership between an investment fund controlled by Bill Ackman and Georgetown Company, as reported by the Commercial Observer.
3. 224 W 57 Street #ROOF
Sale Price: $213,800,000
Eretz Group is the new owner of this landmark property, known as the Argonaut Building, including both office and retail spaces.
Here are the top 20 priciest retail deals closed in NYC in 2015:
Top 20 NYC Retail Sales in 2015
|#||Address||Sale Price||Sale Date||Neighborhood||Buyer||Seller|
|1||144 W 34 Street||$355,000,000||2-Jun.||Chelsea||144-150 West 34th Street EAT LLC||IX 150 West 34 Owner L.P., A Delaware Limited C/O Starwood Capital Group|
|2||787 11 Avenue||$255,500,000||10-Jul.||Clinton - Hell's Kitchen||Georgetown Eleventh Avenue Owners LLC C/O The Georgetown Co.||Manhattan Ford Lincoln Inc.|
|3||224 West 57 Street #ROOF||$213,800,000||7-May.||Theatre District - Times Square||BSD 777-57 LLC; BSD 65 LLC; 224 Sapphire LLC; 224 Shur LLC||Argonaut 224 LLC C/O M1 Real Estate|
|4||427-429 10 Avenue||$152,268,750||15-Dec.||Hudson Yards||50 HYMC Owner LLC||McDonald's Corporation|
|5||601 5 Avenue||$137,041,875||6-Aug.||Central Midtown||Ramsbury Property AB||Schematrentanove S.P.A. (Benetton USA Corporation)|
|6||184-190 W 237 Street & 193 W 237 Street||$132,925,000||8-Oct.||Kingsbridge||EIB Riverdale Crossing LLC||AG-Metropolitan Riverdale Crossing LLC C/O Angelo Gordon & Co.|
|7||690 Madison Avenue||$115,170,000||2-Jul.||Lenox Hill||690 Madison AAC Member LLC||Madison Properties Goup LTD. C/O ILS Fidiciary Limited|
|8||514-522 11 Avenue||$115,000,000||15-Jan.||Clinton - Hell's Kitchen||Silverstein MB LLC C/O Silverstein Properties Inc.||Mercedes-Benz Manhattan Inc. C/O Mercedes-Benz USA LLC|
|9||1185-1193 Broadway & 29-35 W 28 Street||$100,000,000||8-Jan.||NoMad||RP1185 LLC||Clark, Wile & Mayer, Inc.|
|10||712 Madison Avenue||$83,000,000||1-Dec.||Lenox Hill||712 Madison Avenue LLC||712 LLC C/O Duell LLC|
|11||13101-13139 39 Avenue||$78,299,000||2-Jul.||Downtown Flushing||131-01 39TH Avenue Owner LLC||Outlet Plaza LLC|
|12||176-60 Union Turnpike||$75,000,000||1-May.||Jamaica Estates||Utopia Center Development LLC||Utopia Center Acquisition LLC|
|13||361-371 W 12 Street||$71,000,000||22-Dec.||West Village||771 Washington Street Investor LLC C/O Toms Capital LLC||Alan Washington LLC C/O Ermenegildo Zegna Corporation|
|14||151 E 60 Street||$58,054,254||13-Oct.||Lenox Hill||Parkview Tower Owner LLC C/O Kuafu Properties LLC||Gracie 151 Development LLC C/O World Wide Group|
|15||57-61 Murray Street||$50,000,000||5-May.||TriBeCa||Warren Murray Property Owner LLC C/O Cape Advisors||Eden Hadley Realty LLC; Murray Warren Associates LLC; Ramrod Realty Management Co. LLC; FKA Davpal LLC|
|16||350 E 86 Street||$50,000,000||22-Sep.||Yorkville||Cryky LLC; Dux With Grace LLC; ERMW10538DJ LLC; SMBSIRIS LLC; SUNDOG2003 LLC; Nevermore43 LLC||First York Associates LLC C/O Midboro Management Inc.|
|17||58 10 Avenue||$47,604,492||15-Jan.||Meatpacking District||461 West 14th Street Property Investors III LLC C/O Savana Real Estate Fund||Mulnick Realty LLC C/O Milk Studios|
|18||253 3 Avenue||$47,200,000||10-Aug.||Gramercy Park||Longer Hills II LLC C/O Alfa Development LLC||261 Third Acquisition LLC; 255 Third Acquisition LLC|
|19||142 Bowery & 136 Bowery & 134 Bowery||$46,849,956||9-Oct.||NoLIta||138 Emmut Properties LLC||REVX-660 LLC|
|20||2550-552 W 21 Street||$45,000,000||22-Apr.||Chelsea||540 West 21st Street Holdings LLC||550 West 21st Street LLC|