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Recent commercial real estate transactions

by Andrea Waitrovich

Below is a sampling of recent property transactions tracked by Real Capital Analytics. The largest transactions were office properties in New York City and Washington, D.C.

In New York City, Vornado Realty Trust has agreed to sell 1740 Broadway, a 601,000-square-foot office building in Manhattan. The seller was The Blackstone Group. The sales price was $605 million, or approximately $1,000 per square foot. The tax gain will be approximately $483 million, which will be deferred as part of a like-kind exchange for the acquisition of the retail condominium of the St. Regis Hotel and the adjacent retail townhouse. The total sales price was $700 million.

In Washington, D.C., the 404,000-square-foot Lincoln Square sold for $300 million to Rockrose Development. The seller was Ralph Dweck.

 

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