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CIM Group Acquires Office Building At 88 University Place For $48.6M From Arch Companies

Property Image
SOLD
$48,600,000

New York

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Office70,642 SF
Sold 09/19/2024
the dealdetailscomps
Property Image
SOLD

CIM Group Acquires Office Building At 88 University Place For $48.6M From Arch Companies

88 University Place

See Similar Deals
Office70,642 SF
Sold 09/19/2024
the dealdetailscomps

Summary

NEW YORK
Asset Type:Office
Price Per Square Foot:$688
Total Square Footage:70,642 SF
Transaction Type:Sale

The property asset involved in the transaction is located at 88 University Place in Greenwich Village, Manhattan. It is an office asset with a sale price of $48,600,000, encompassing 70,642 square feet, resulting in a price per square foot of $688.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $48,600,000
  • Address: 88 University Place
  • Market: Greenwich Village, Manhattan
  • Square Footage: 70,642
  • Price Per Square Foot: $688
  • Buyer: Shaul Kuba, Richard Ressler & Avi Shemesh - CIM Group
  • Seller: Arch Companies

The acquisition of the O6 office building was completed via UCC foreclosure, marking a significant transaction for CIM Group, which consists of the buyers Shaul Kuba, Richard Ressler, and Avi Shemesh. The deal was finalized on September 19, 2024, highlighting the involvement of Arch Companies as the seller in this transaction.

Details

SOLD
IMAGE: Shaul Kuba, Richard Ressler & Avi Shemesh DATE: 09/19/2024 ADDRESS: 88 University Place MARKET: Greenwich Village, Manhattan ASSET TYPE: Office BUYER: Shaul Kuba, Richard Ressler & Avi Shemesh - CIM Group (@CIMGroup) SELLER: Arch Companies SALE PRICE: $48,600,000 SF: 70,642 ~ PPSF: $688 NOTE: CIM Group acquired the O6 office building at 88 University Place for $48.6 million via UCC foreclosure from Arch Companies, with the deal closing on September 19, 2024.

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