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SL Green Realty Acquires Office Building In Hell's Kitchen For $90M

Property Image
SOLD
$90,000,000

New York

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Office1,600,000 SF
Sold 01/10/2020
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Property Image
SOLD

SL Green Realty Acquires Office Building In Hell's Kitchen For $90M

603 W 50th St, New York, NY 10019, USA

See Similar Deals
Office1,600,000 SF
Sold 01/10/2020
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Summary

NEW YORK
Asset Type:Office
Price Per Square Foot:$56
Total Square Footage:1,600,000 SF
Transaction Type:Sale

The office property located at 603-615 W. 50th St. in Hell's Kitchen has been sold for a price of $90,000,000. The approximate square footage of the property is 160,000, resulting in a price per square foot of $562. The transaction involved the buyer, SL Green Realty, and the seller, Kenneth Cole. The seller was represented by Woody Heller and David Heller from Savills North America. It is worth noting that Kenneth Cole had originally purchased the building in 2006 for $24 million.

Summary of transation details

  • Property Type: Office
  • Transaction Amount: $90,000,000
  • Square Footage: 160,000 (approx.)
  • Price Per Square Foot: $562
  • Address: 603-615 W. 50th St.
  • Market: Hell's Kitchen

The key individuals involved in this deal include Andrew Matthias, Marc Holliday, and Kenneth Cole. Additionally, Woody Heller and David Heller acted as the seller's representatives from Savills North America. This transaction demonstrates the successful collaboration between SL Green Realty and Kenneth Cole, leading to the sale of this office property in Hell's Kitchen.

Players

4 deals$248M volume
BROKER

Woody Heller
2 deals$140M volume
BROKER

SL Green
BUYER

Details

SOLD
IMAGE: Andrew Matthias, Woody Heller, Marc Holliday, David Heller & Kenneth Cole DATE: 01/10/2020 ADDRESS: 603-615 W. 50th St. MARKET: Hell’s Kitchen ASSET TYPE: Office PRICE: $90,000,000 SF: 160,000 (approx.) PPSF: $562 BUYER: @SLGreen_Realty SELLER: @KennethCole SELLER’S REP: Woody Heller & David Heller @savillsnorthamerica NOTE: @kennethcole purchased the building in 2006 for $24M.

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