William S. Macklowe Of William Macklowe Company Acquires Office Building In Tribeca For $52.8M

The office building at 291 Broadway in Tribeca, Manhattan has been sold for $52.8 million. This property encompasses a total square footage of 128,940 and was transacted at a price per square foot of $409.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $52,800,000
• Address: 291 Broadway
• Market: Tribeca, Manhattan
• Square Footage: 128,940
• Price per Square Foot: $409
• Buyer: William S. Macklowe - William Macklowe Company
• Seller: Sutton Management

William Macklowe Company acquired the property through 291 Broadway Mezz LLC, following a foreclosure that was initiated on defaulted debt originally financed by New York Community Bank.