Sale Value: $159.4 million
Extell Growth Co. purchased the 198,347-square-foot workplace constructing in Manhattan’s Lenox Hill neighborhood from Williams Equities, at a sale value of $803.8 per sq. foot. The acquisition was financed with a $150 million consolidated mortgage offered by Tyko Capital. Relationship again to 1951 and rising 24 tales, the workplace constructing’s tenant roster contains Knotel, Tisch Monetary Administration Co., Garnet Group Inc. and Trinity Place Holdings Inc., amongst others. Fried Frank represented the vendor and suggested the lender in securing the financing bundle.
Sale Value: $32.2 million
CIM Group foreclosed on the 70,642-square-foot workplace constructing in Greenwich Village. The vendor was Arch Cos., which defaulted on a virtually $71 million refinancing bundle secured in 2022 and backed by the property. The constructing dates again to 1906, rises 11 tales and had beforehand traded in 2015 for $70 million, when WeWork and its companion acquired it.
Sale Value: $29.5 million
Charitable group Pearl Basis Inc. bought the 72,700-square-foot workplace asset in Brooklyn’s Gowanus neighborhood from Samson Administration. The seven-story property was inbuilt 1968 and final upgraded in 2014. The asset beforehand modified fingers in 2015, when Samson Administration acquired it for $73 million. Because the begin of the yr, occupancy on the property has posed points, particularly with long-time tenant Bond Collective leaving and liberating up 50,000 sq. toes, in response to The Actual Deal.
Sale Value: $22.8 million
The 71,180-square-foot constructing within the borough’s Koreatown space traded between Starwood Property Belief and Empire State Equities. Starwood Property Belief purchased again the property through its affiliate, LNR Companions, that acted as a mortgage servicer by way of a foreclosures public sale deal. The vendor defaulted on a $41 million mortgage originated in 2019 after it owned the 1911-built, 12-story asset since 2007.
Sale Value: $22.8 million
Inbuilt 1987, the 43,307-square-foot workplace constructing modified fingers between Tarsat Properties and ASB Actual Property Investments. The Maryland-based vendor owned the property in partnership with George Consolation & Sons since 2015, when it bought the nine-story constructing for $43.8 million. The Flatiron District property contains 4,000 sq. toes of retail area and is at the moment occupied by Concord Companions, Uppercut Edit and Information Courier Methods, amongst others.
—Posted on November 26
