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Transactions - APRIL 3, 2017

Carlyle buys office condos for $218m in Manhattan

by Andrea Waitrovich

The Carlyle Group is buying the remaining office condominiums at 866 United Nations Plaza in Manhattan for an estimated price of $218 million. The seller was Meadow Partners.

In 2015, Meadow Partners, through an affiliate, converted the 471,000-square-foot office building into a commercial condominium property containing office, retail and garage space. Located at the base of two 32-story residential towers on 48th Street in New York City, the property offers six 78,000-square-foot floors and units ranging in size from less than 1,000 square feet to more than 50,000 square feet.

Vornado Realty Trust sold the property to Meadow Partners and its partner United Realty Partners in December 2013 for $200 million.

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