DLA Piper Acquires Office Building From Kenneth Aschendorf In Midtown Manhattan For $67.2M

The asset involved in this transaction is an office building located at 24 West 57th Street in Midtown West, Manhattan. The sale price for the property was $67,200,000. The building features a total building square footage (BSF) of 100,410, with a price per building square foot (PPBSF) of $669. The usable square footage (SF) is 88,722, resulting in a price per square foot (PPSF) of $757.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $67,200,000
• Buyer: DLA Piper, 2457 Acquisition LLC
• Seller: Kenneth Aschendorf - APF Properties
• Market: Midtown West, Manhattan
• Building Square Footage: 100,410
• Price per Building Square Foot: $669
• Usable Square Footage: 88,722
• Price per Square Foot: $757

The transaction involved 2457 Acquisition LLC, represented by Mark Meland. They acquired the office building from Kenneth Aschendorf of APF Properties after Extell Development settled a defaulted $50 million loan associated with the property.