Davis Companies And Tribeca Investment Group Acquire Office Asset From Atco Properties For $65M

The property asset involved in this transaction is an office building located at 630 3rd Avenue in the Grand Central market. It was sold for a total transaction amount of $65,000,000, covering an area of 261,000 square feet, which results in a price per square foot of $249.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $65,000,000
• Address: 630 3rd Avenue
• Market: Grand Central
• Square Footage: 261,000
• Price Per Square Foot: $249
• Buyer: Davis Companies & Tribeca Investment Group
• Seller: Atco Properties
• Broker: Albert Sultan - KSR

Albert Sultan of KSR was responsible for arranging the joint venture and recapitalization between the buyers, Davis Companies and Tribeca Investment Group, and the seller, Atco Properties.