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Namdar Realty Group & Empire Capital Holdings Acquire Midtown South Office Buildings For $107M

Property Image
SOLD
$107,000,000

New York

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Office220,000 SF
Sold 06/01/2020
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Property Image
SOLD

Namdar Realty Group & Empire Capital Holdings Acquire Midtown South Office Buildings For $107M

341 7th Avenue, Manhattan, New York, NY, USA

See Similar Deals
Office220,000 SF
Sold 06/01/2020
Contact now

Summary

NEW YORK
Asset Type:Office
Price Per Square Foot:$486
Total Square Footage:220,000 SF
Transaction Type:Sale

Namdar Realty Group and Empire Capital Holdings, represented by Josh Rahmani, Ebi Khalili, and Aaron Bergman, are set to acquire three adjacent buildings in Midtown South. The properties, located at 341, 343, and 345 Seventh Ave. & 167 West 29th St., are office assets with a combined square footage of 220,000. The deal, brokered by Doug Middleton, Alana Bassen, and Darcy Stacom of BRE, is being facilitated by the seller, Clemons Management Corporation.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $107,000,000
  • Square Footage: 220,000
  • Price per Square Foot: $486

This transaction also includes the acquisition of air rights, contributing an additional 80,000 square feet to the deal. The buyer's representatives, Josh Rahmani, Ebi Khalili, and Aaron Bergman, along with the brokers, Doug Middleton, Alana Bassen, and Darcy Stacom, have successfully negotiated this in-contract agreement.

Players

Doug Middleton
37 deals$6.9B volume(917) 767-6955
BROKER

Darcy Stacom
Stacom CRE
30 deals$8.6B volume
BROKER

Alana Bassen
Eastdil Secured
17 deals$10.7B volume
BROKER

SELLER

Details

SOLD
IMAGE: CONTRACT IMAGE: Darcy Stacom, Doug Middleton, Igal Namdar, Ebi Khalili, Josh Rahmani & Alana Bassen DATE: 06/2021 ADDRESS: 341, 343, 345 Seventh Ave. & 167 West 29th St. MARKET: Midtown South ASSET TYPE: Office BUYER: Namdar Realty Group & Empire Capital Holdings - Josh Rahmani, Ebi Khalili & Aaron Bergman SELLER: Clemons Management Corporation BROKERS: Doug Middleton, Alana Bassen & Darcy Stacom - @CBRE PRICE: $107,000,000 SF: 220,000 ~ PPSF: $486 NOTE: The deal came with 3 adjacent buildings & air rights consisting of 80,000 SF.

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