601W Companies Acquires Office Building On Far West Side Of Manhattan For $952.5M

The office property located at 410 10th Avenue in the Far West Side market has been sold for a price of $952,500,000. The property has a total square footage of 538,671 and a price per square foot of $1,768. The sale was completed on November 4, 2020.

Summary of transaction details

• Property Type: Office
• Transaction Amount: $952,500,000
• Address: 410 10th Avenue
• Market: Far West Side
• Square Footage: 538,671
• Price per Square Foot: $1,768

The buyer of the property is 601W Companies, represented by Victor Gerstein, Michael Silberberg, and Mark Krasick. The seller of the property is the Kaufman Organization and SL Green Realty. The transaction was facilitated by CBRE. The property is zoned as C6-4, HY.

It is worth noting that SL Green currently owns 70.9% of the venture and will retain a 5% interest through the completion of the property's redevelopment. The transaction is expected to close during the fourth quarter of 2020, subject to customary closing conditions. Furthermore, Amazon became the anchor tenant of the property in December 2019 by leasing 335,408 square feet.