{"id":18005,"date":"2015-11-30T09:54:08","date_gmt":"2015-11-30T13:54:08","guid":{"rendered":"http:\/\/www.propertyshark.com\/Real-Estate-Reports\/?p=18005"},"modified":"2018-03-01T13:34:42","modified_gmt":"2018-03-01T11:34:42","slug":"nyc-commercial-real-estate-octobers-biggest-sales","status":"publish","type":"post","link":"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/2015\/11\/30\/nyc-commercial-real-estate-octobers-biggest-sales\/","title":{"rendered":"NYC Commercial Real Estate: October’s Biggest Sales"},"content":{"rendered":"

How did the NYC commercial real estate<\/a> segment do in October?\u00a0Our\u00a0top 10 list of the most expensive commercial sales reveals which were the latest important\u00a0transactions in the Big Apple; most of the names referring to\u00a0Manhattan office<\/a>, retail and loft deals. Not all, though, as\u00a0there’s also a building in the Bronx claiming one of the\u00a0spotlights.<\/p>\n

Take a look below and find out more information about\u00a0the 10 biggest New York commercial real estate deals that got inked last month:<\/p>\n

<\/span>\"120<\/a>1. 120 W 45th Street, Manhattan<\/a><\/span><\/h3>\n

Sales Price: $365,000,000<\/p>\n

Seller: SL Green<\/p>\n

Buyer: 33rd T45 LLC and Akco T45 LLC<\/p>\n

Topping expectations Tower 45 was the most expensive commercial sale recorded in Oct. 2015. Sold by the city\u2019s largest commercial landlord this prime office building is home to several offices and retail, while tenants include presidential candidate Hillary Clinton. This was a relatively swift turnaround for SL Green, reselling for almost $100M more than the acquisition price.<\/p>\n

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\"364-372<\/a><\/h3>\n

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<\/span>2. 364-372 Lexington Avenue, Manhattan<\/a><\/span><\/h3>\n

Sales Price: $247,000,000<\/p>\n

Seller: Sherwood 370 Lexington LLC<\/p>\n

Buyer: Unizo Real Estate<\/p>\n

Japanese real estate investment firm Unizo added this prime Midtown building to its rapidly growing NYC portfolio after making several other acquisitions earlier in 2015. The rapid sale offered a hot exit for Sherwood Equities and JPMorgan Chase who marked it up at a premium of almost $100M from their acquisition in 2008.<\/p>\n

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<\/span>3. 184-190, the Bronx<\/a> and 193 W 237 Street, the Bronx<\/a><\/span><\/h3>\n

Sales Price: $132,925,000
\nBuyer: EIB Riverdale Crossing LLC
\nSeller: AG-Metropolitan Riverside Crossing LLC<\/p>\n

The only non-Manhattan deal on this month\u2019s top list of transactions is this notable 118k sq. ft. 2 story mixed-use retail and office deal.<\/p>\n

<\/span>\"119-125<\/a>4. 119-125 W 24 Street, Manhattan<\/a><\/span><\/h3>\n

Sales Price: $86,637,784
\nBuyer: HLP Properties LLC
\nSeller: 119-125 West 24th Street Holder LLC \/ 119-125 West 24th Street Owner LLC<\/p>\n

This 12 story office building boasts 130,876 square feet in Chelsea Clinton, on the border of Midtown. Co-working giant AlleyNYC signed a lease for 36,000 sq. ft. here earlier this year after a wildly successful $16M Series A fundraising round.<\/p>\n

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<\/span>\"155-161<\/a>5. 155-161 E 60 Street, Manhattan<\/a><\/span><\/h3>\n

Sales Price: $85,184,413<\/p>\n

Buyer: Park View Tower Owner LLC<\/p>\n

Seller: KA 155 LLC<\/p>\n

This 11 story, 78,716 square foot Upper East Side office tower is pegged to become \u201cManhattan\u2019s next most exclusive address<\/a>.\u201d Being\u00a0part of a larger $300M deal, rumors are this parcel will accommodate a 1,000 foot super tower of shimmering glass.<\/p>\n

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<\/span>\"155-157<\/a>6. 155-157 W 23 Street, Manhattan<\/a><\/span><\/h3>\n

Sales Price: $57,237,046<\/p>\n

Buyer: HLP Properties LLC<\/p>\n

Seller: 155 West 23rd Street Holder LLC and 155 West 23rd Street Owner LLC<\/p>\n

This is the second deal on this month\u2019s list for HLP Properties, LLC. The commercial building is located steps from the Flatiron Building and in hot midtown south, where tech is taking over and the NYC market is experiencing a crossing of heated demand for retail space as tenants spill over from Fifth Ave.<\/p>\n

The Kaufman Organization and Goldman Sachs reportedly secured a $45M, 99-year lease on 155 W earlier this fall, according to Crain\u2019s<\/a>.<\/p>\n

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<\/span>\"620<\/a>7. 620 Joe DiMaggio Highway, Manhattan<\/a><\/span><\/h3>\n

Sales Price: $55,000,000
\nBuyer: HLP Properties LLC
\nSeller: 620 Properties Associates LLC
\nThe third HLP Properties deal<\/a> recorded so far in Q4 2015 rounds a $250M sale from Gary Barnett who skillfully acquired the Ring brothers holdings, five of which were ground leased to the Kaufman Organization earlier this year. This actually rings in at 5th largest deal, with 102,800 square feet.<\/p>\n

<\/span>\"October<\/a>8. 313-315 W 35 Street, Manhattan<\/a><\/span><\/h3>\n

Sales Price: $43,000,000<\/p>\n

Buyer: Mazel 315 West 35th LLC<\/p>\n

Seller: 315 W 35th Associates LLC<\/p>\n

A 62,000+ sq. ft. loft building with 11 units spreading across 14 stories — this quirky deal was \u00a0snagged for $16M in 2006, headed to foreclosure auction before condo conversion could be completed, and was estimated to be worth an approximate $60M as of April this year.<\/p>\n

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<\/span>\"October<\/a>9. 19-21 W 24 Street, Manhattan<\/a><\/span><\/h3>\n

Sales Price: $42,004,291<\/p>\n

Buyer: HLP Properties LLC<\/p>\n

Seller: 19 West 24th Street Holder LLC and 19 West 24th Street Owner LLC<\/p>\n

In the heart of the city, and just steps from Madison Square Park this property\u00a0is the 4th out of the 5 HLP Properties deals recorded in October.<\/p>\n

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<\/span>\"October<\/a>10. 13-15 W 27 Street, Manhattan<\/a><\/span><\/h3>\n

Sales Price: $38,842,647<\/p>\n

Buyer: HLP Properties LLC<\/p>\n

Seller: 13-15 West 27th Street Holder LLC and 13 West 27th Street Owner LLC<\/p>\n

This 11 story loft building located between Broadway and Fifth Avenue adds one more spectacular acquisition to the HLP Properties coup. As of the beginning of October Gary Barnett had offloaded 10 of the 14 buildings making up the Ring Brothers portfolio for $700M. He initially paid $450M for them, according to The Real Deal<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

How did the NYC commercial real estate segment do in October?\u00a0Our\u00a0top 10 list of the most expensive commercial sales reveals which were the latest important\u00a0transactions in the Big Apple; most of the names referring to\u00a0Manhattan office, retail and loft deals. Not all, though, as\u00a0there’s also a building in the Bronx claiming one of the\u00a0spotlights. Take…<\/p>\n","protected":false},"author":30,"featured_media":18026,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[376],"tags":[574],"class_list":["post-18005","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-new-york-commercial-real-estate","tag-nyc-commercial-transactions"],"yoast_head":"\nNYC Commercial Real Estate: October's Biggest Sales - PropertyShark Real Estate Blog<\/title>\n<meta name=\"description\" content=\"HLP Properties was one of the most important players on the NYC commercial real estate market in October.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/2015\/11\/30\/nyc-commercial-real-estate-octobers-biggest-sales\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"NYC Commercial Real Estate: October's Biggest Sales\" \/>\n<meta property=\"og:description\" content=\"HLP Properties was one of the most important players on the NYC commercial real estate market in October.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/2015\/11\/30\/nyc-commercial-real-estate-octobers-biggest-sales\/\" \/>\n<meta property=\"og:site_name\" content=\"PropertyShark Real Estate Blog\" \/>\n<meta property=\"article:published_time\" content=\"2015-11-30T13:54:08+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2018-03-01T11:34:42+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2015\/11\/October-top-10-commercial-sales-31.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"743\" \/>\n\t<meta property=\"og:image:height\" content=\"689\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Roxana Baiceanu\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Roxana Baiceanu\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"NYC Commercial Real Estate: October's Biggest Sales - 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