Top 5 NYC Office Building Sales—September 2021

Source: PropertyShark, a Yardi Systems Inc. company

1. 536 W. 29th St., Manhattan
   Sale Price: $13,000,000

The 6,500-square-foot Chelsea property changed hands with the help of an $8.7 million acquisition loan originated by JP Morgan Chase. Originally built for theater set designer John H. Young in 1904, the warehouse was converted into a townhouse that spans four levels and features a studio on the lower level, an office component on the entry floor, an atrium on the third floor, a library on the fourth floor and a terrace that overlooks a 700-square-foot garden.

2. 36-18 33rd St., Queens
   Sale Price: $5,500,000

A private investor sold the 12,152-square-foot building to an entity affiliated with The Drywall Pension Building Fund Inc. The two-story property in Astoria includes three commercial units totaling 6,200 square feet and 5,952 square feet of garage space. Completed in 1925, the reinforced concrete facility features 39-foot ceiling heights and underwent alterations in 2003.

3. 19 W. 26th St., Manhattan
   Sale Price: $5,400,000

19 W. 26th St., Manhattan

The five-story NoMad property, sold by a private investor, totals 10,016 square feet and includes five commercial units. The 1920-built asset features 7,816 square feet of office and 2,200 square feet of retail space. Situated in the Madison Square North historic district, the property is close to transportation options including the N/R subway lines accessible at the SW corner of Broadway and 28th Street.

4. 902 49th St., Brooklyn
   Sale Price: $3,900,000

A private investor sold the 4,320-square-foot Borough Park property to an entity connected to Sasson Real Estate Group. The buyer closed the transaction with help from a $2.4 million acquisition financing originated by First Bank. The long-term, permanent loan carries a 2.57 percent interest rate and is scheduled to mature in September 2031. The two-story building was developed in 1920 and includes two commercial units.

5. 42-21 Francis Lewis Blvd., Queens
   Sale Price: $3,497,000

The 4,015-square-foot building in Bayside changed hands in a portfolio transaction along with the adjacent, 3,725-square-foot property located at 42-23 Francis Lewis Blvd. Woori America Bank facilitated the deal with $2 million in acquisition financing. Both buildings span three stories, include four commercial units each and were developed in 1988. The assets last sold through an arms-length transaction in 1986.