Namdar Realty Group And Empire Capital Holdings Acquire Office Buildings In Penn Plaza For $107M

The property involved in the transaction is located at 341-345 Seventh Avenue & 167 West 29th Street in the Penn Plaza market. It is an office building with a total square footage of 220,000. The sale price for the property was $107,000,000, resulting in a price per square foot of $486. The transaction took place on 09/02/2021.

Summary of transaction details

• Property Type: Office
• Transaction Amount: $107,000,000
• Address: 341-345 Seventh Avenue & 167 West 29th Street
• Market: Penn Plaza
• Buyer: Namdar Realty Group - Igal Namdar & Empire Capital Holdings - Josh Rahmani, Ebi Khalili & Aaron Bergman
• Seller: Clemons Management Corporation
• Brokers: Doug Middleton, Alana Bassen & Darcy Stacom - CBRE

The buyers in this transaction include Namdar Realty Group represented by Igal Namdar, and Empire Capital Holdings represented by Josh Rahmani, Ebi Khalili, and Aaron Bergman. The seller was Clemons Management Corporation. The brokers involved in the deal were Doug Middleton, Alana Bassen, and Darcy Stacom from CBRE.