Baby, It's Cold Out There: Fourth Quarter Set to Record Grand Total of Two Manhattan Building Sales Over $90 M.
The New York Observer reports: So far this quarter—and the quarter ends on New Year’s Eve—only two Manhattan building transactions worth more than $90 million have occurred. Count them. Just takes two fingers.
No. 1: 1372 Broadway, which sold to Lloyd Goldman in October for $274 million. No. 2: 95 Morton Street, which private-equity firm Brickman picked up last week in a pre-Thanksgiving deal for $96.5 million.
It’s probably worth pointing out that 1372 only got done because the seller, Wachovia Bank, financed it.
According to Real Capital Analytics, Manhattan has seen only nine “office” space transactions of more than $2.5 million this quarter.
View the full article on The New York Observer: Baby, It's Cold Out There: Fourth Quarter Set to Record Grand Total of Two Manhattan Building Sales Over $90 M.
Posted by: Nina Turner