The 5 Biggest NYC Investment Sales Deals of 2017

2017 was led by office towers deals as they continued their dominance in New York City.  Compared to previous years however, the deals were often smaller in dollar amount.  Manhattan trophy tower segment shifted in a sluggish transitional market as billion-dollar building sales were scarce.  Additionally owners opted to sell partial stakes or recapitalize in lieu of an all-out sale. Overall, the city cleared nearly $33 billion in New York City investment sales this year, a nearly 44 percent year-over-year decline from $57.8 billion.

 
 

245 Park Avenue ›

Price: $2.2 billion

Buyer: HNA Group

Seller: Brookfield Property Partners & New York State Teachers’

Retirement System

Broker: CBRE

Market: Manhattan

 
 
 

60 Wall Street ›

Price: $1.04B

Buyer: GIC

Seller: Paramount Group & Morgan Stanley

Broker: HFF

Market: Manhattan

 
 
 

424 Fifth Avenue ›

Price: $850M

Buyer: WeWork and Rhone Capital

Seller: Hudson’s Bay Company

Broker: N/A

Market: Manhattan

 
 
 

One Worldwide Plaza ›

Price: $840M (49%)

Buyer: SL Green Realty & RXR Realty

Seller: New York REIT

Seller Broker: Eastdil Secured & CBRE

Buyer Broker: Cushman & Wakefield

Market: Manhattan

 
 
 

One Liberty Plaza ›

Price: $759.5M (49%)

Buyer: Blackstone Group

Seller: Brookfield Property Partners

Broker: Cushman & Wakefield

Market: Manhattan