In and out of sight. This week, Related sold 321 West 44th Street to Empire Capital and Namdar Realty Group for less than $50 million, wiping out two-thirds of the value of the 10-story office building. Meanwhile, on the East Side, Douglaston Development bought a 90-apartment building for $114.5 million, but the company plans to partially demolish it to build better apartments. And Tishman Speyer has poured $100.2 million into South Florida; the Rockefeller Center landlord is now also the Rock Lake Business Center landlord, marking the company's first industrial acquisition in the state.
|
amount |
address |
buyer |
seller |
broker |
assets |
|---|---|---|---|---|---|
|
$114.5 million |
1450 Third Avenue, New York |
Douglaston Development |
Valerei Real Estate Company |
N/A |
housing complex |
|
$100.2 million |
3150-3250 NW 33rd Street, Pompano Beach, FL |
Tishman Speyer |
IDI Logistics |
N/A |
industry |
|
Less than $50 million |
321 West 44th Street, New York |
Empire Capital and Namdar Realty Group |
Related Fund Management |
CBRE's Doug Middleton, Jack Stillwagon and Pat Aranzio |
office |
|
$27.5 million |
1670 West Broadway, Anaheim, California |
David Yazdinian |
Dana Springer, Michelle Yamashita, Clark Biggers III |
Marcus & Millichap's Tyler Leeson, Matt Kipp, Nicholas Kazemi, and Drew Holden |
housing complex |
|
$23.5 million |
Palm Beach Gardens, Florida |
G.L. Holmes |
Landstar Development Group |
N/A |
Residential |
|
N/A |
Desert Hot Springs, California |
Shop Off Real Estate Investment |
N/A |
N/A |
Development site |
This week's deals reflect sales completed or announced between June 10 and June 14. Send your sale information to editorial@commercialobserver.com.
