Transactions - JANUARY 20, 2016

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Three NYC properties sell for $552m

by Andrea Waitrovich

In separate deals, three properties in Manhattan have sold for more than $552 million, continuing the trend of soaring New York City property transaction volume.

MRP Realty and Deutsche Asset & Wealth Management are under contract to purchase 405 Park Ave., a 17-story building on the corner of East 54th Street, for $240 million from the Donerail Corp. The property is located along one of Manhattan’s most expensive office corridors, where rents routinely surpass $100 per square foot, according to Crain’s New York article.

In Midtown South, Invesco Real Estate purchased the Chanel building at 139 Spring St. for $112 million from Spring & Wooster.

And in Upper Manhattan the 1,229-unit Riverton House was sold for more than $200 million to A&E

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