GFP Real Estate and Northwind Group has sold 100 Pearl Street in New York’s Financial District to Germany-based Commerz Real.
The sale marks one of the largest office sales transactions in New York since the beginning of the pandemic and underscores foreign investors’ strong interest in acquiring class-A trophy office assets in the city.
GFP Real Estate and Northwind Group signed a contract to acquire the full-block property in 2018 for $308.5 million. The partnership recently completed a $250 million modernization of 100 Pearl that included a full renovation of the building’s lobby and infrastructure; the addition of a new food hall, coffee shop, restaurant, and wine bar; as well as the addition of a new penthouse floor featuring a tenant-exclusive rooftop and amenity lounge boasting sweeping views of the New York Harbor and New York City skyline.
“100 Pearl has been completely reimagined following an extensive gut renovation that included the addition
