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.
Seller: Paramount Group & Morgan Stanley
Buyer: WeWork and Rhone Capital
Seller: Hudson’s Bay Company