Office Building News (11)
Office Building News Articles
304 Park Avenue South Sold to SL Green $135 Million
Written by Levi Yitzchak
SL Green, the largest commercial office landlord in New York City, said it agreed to buy 304 Park Avenue South for $135 million, or $628 a square foot
Wall Street dealers are teeing up about $1.8 billion in commercial real estate
750 Seventh Ave Sold $485 Million to Fosterlane
Written by Levi Yitzchak
Hines Interests is in contract to sell off 750 Seventh Avenue to Kuwaiti investment firm Fosterlane Management, the 600,000-square-foot tower at 48th Street, to an offshore investor after drawing interest from at least 20 to 30 bidders, according to the Observer.
An office building in lower Manhattan at 335-337 Broadway is close to being sold and is slated to be converted into residential condos, according to sources.
The 165,000-square-foot building in the City Hall submarket, which was marketed as 93 Worth St. for over a year, is now in contract. Sources said the buyer is the Horizon Group, a real estate development and investment company active in Westchester and New Jersey. The sale price and details of the transaction could not be immediately determined.
North Shore-LIJ Health System will convert St. Vincent’s O’Toole Building into a facility with emergency care as part of the agreement.
A bankruptcy court yesterday approved the sale of the shuttered St. Vincent's Medical Center in Greenwich Village.
475 Fifth Avenue Sold to TIAA-CREF
Written by Levi Yitzchak
Pension fund giant TIAA-CREF purchased the 280,000-square-foot office building 475 Fifth Avenue from Barclays Capital Real Estate this week for $144 million, about $4 million more than expected, according to sources involved in the transaction.The deal closed Wednesday, sources said, at sale price of about $514 per square foot. Midtown-based TIAA-CREF had been expected to buy the building, but for $140 million or less.
11 E 68th St Residential Rental Building Sold $170M
Vornado Realty Trust went into contract to buy an Upper East Side Residential Building for $170 million, the New York Post reported.
The 11-story, 41-unit apartment building at 11 East 68th Street, with two rental units along Madison Avenue
Savanna, a New York-based real estate private-equity firm, bought 31 Penn Plaza, an 18-story office building near midtown Manhattan’s Madison Square Garden and Penn Station.
The property, on West 31st Street between Sixth and Seventh Avenues, has 444,000 square feet
530 5th Avenue Tower Sold
Written by Levi Yitzchak
New York developer Norman Sturner and Crown Acquisitions agreed to buy a 26-story office tower on Fifth Avenue in midtown Manhattan from a partnership that includes Joseph Moinian and Joseph Chetrit.
The Sturner-Crown joint venture plans to raise rents at 
Some of the biggest names in real estate submitted bids last week for a 45-story Midtown office tower in a sales process that's being looked at as an important barometer of New York skyscraper values during the economy's current rough patch.
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