Top 5 NYC Office Building Sales—December 2021

Source: PropertyShark, a Yardi Systems Inc. company

1. 11 E. 26th St., Manhattan
   Sale Price: $13,000,000

11. E. 26th St. Image via Google Street View

A private investor sold its 5 percent interest stake in the 218,000-square-foot office building in NoMad to Rockrose Development. The transaction combined with the April share purchase brings Rockrose’s ownership stake in the office asset dubbed 11 Madison Square North to 47.5 percent. The high-rise across the street from Madison Square Park features an 11,000-square-foot retail space and is home to MoMath, the National Museum of Mathematics.

2. 36-09 38th St., Queens
   Sale Price: $9,900,000

The two-story office asset totaling 20,277 square feet in Long Island City was completed in 1966 but underwent alterations in 2001. The property is less than 2 miles from Interstates 278 and 495, with nearby transportation options that include the E, M and R lines accessible via the SE corner of 36th Street and Northern Boulevard.

3. 819 Grand St., Brooklyn
   Sale Price: $6,197,000

St. Nicks Alliance Corp. acquired the three-story former bank building encompassing 13,357 square feet in Williamsburg. The new owner secured a $6.6 million mortgage originated by Leviticus Fund, Capital Impact Partners and Partners for the Common Good. The funds will go toward the construction of a 213-unit senior housing community adjacent to the 150-unit Jennings Hall also owned by St. Nicks, according to the lead lender, Leviticus.

4. 11-11 40th Ave., Queens
   Sale Price: $4,500,000

A joint venture between Barone Management and a private investor acquired the 15,000-square-foot office asset in Long Island City. G4 Capital Partners facilitated the transaction with $4.3 million in acquisition financing. The 1916-built property includes 3,000 square feet of storage space as well as an additional 22,500-square-foot buildable square footage.

5. 2301-2311 White Plains Road, Bronx
   Sale Price: $2,450,000

The nearly 5,000-square-foot property in Allerton last traded mid-2017 for $2 million less through an all cash transaction. The new owner plans to demolish the 1965-built, single-story building according to permits filed with the New York City Department of Buildings. The property features a 29,328-square-foot maximum buildable floor area on a 12,069-square-foot lot.