Craig DeSanto Of New York Life Insurance Company Acquires Office Building From John Carrafiell For $173.1M

The property asset involved in this transaction is an office building located at 757 3rd Avenue, in the Greenwood Heights market of Brooklyn. The building encompasses a total of 407,767 square feet and was acquired for a sale price of $173,099,519, which translates to a price per square foot of $425.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $173,099,519
• Buyer: Craig DeSanto - New York Life Insurance Company
• Seller: John Carrafiell - BGO
• Square Footage: 407,767
• Price per Square Foot: $425
• Date of Transaction: 10/20/2025
• Market: Greenwood Heights, Brooklyn

In this deal, Craig DeSanto represented New York Life Insurance Company as the buyer, while John Carrafiell represented BGO as the seller. The acquisition was facilitated through a deed-in-lieu of foreclosure, emphasizing the nature of the transaction.