Penn South Capital Sells 39 Clarkson Street Office Building For $45.9M

Parag Sawhney and Raymond Chera have recently closed a property transaction in Hudson Square, selling an office located at 39 Clarkson Street. The asset spans 30,000 square feet and was sold for a total price of $45,900,000, translating to a price per square foot of $1,530.

Summary of transaction details

• Property Type: Office
• Transaction Amount: $45,900,000
• Address: 39 Clarkson Street
• Market: Hudson Square

The seller, Penn South Capital, represented by Parag Sawhney, Raymond Chera, and Adam Greene, successfully completed this sale. The transaction was facilitated by The Corcoran Group. It is worth noting that the property was originally acquired as part of a package deal for $27 million prior to the pandemic. Despite the challenging circumstances, the seller is proud of the quick and effective turnaround of the investment.

As stated by the seller, they are actively looking to make new acquisitions in the residential or office sectors. However, due to time constraints, they can only consider highly actionable deals. Interested parties can contact them directly to discuss potential opportunities.