David Werner Real Estate Investments Acquires Office At 885 2nd Avenue For $270 Million

The asset involved in this transaction is an office property located at 885 2nd Avenue in the Turtle Bay market of Manhattan. The sale is under contract with a total transaction amount of $270,000,000, encompassing 800,000 square feet, which translates to a price per square foot of $337.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $270,000,000
• Address: 885 2nd Avenue
• Market: Turtle Bay, Manhattan
• Square Footage: 800,000
• Price per Square Foot: $337
• Buyer: David Werner Real Estate Investments (DWREI) - David Werner
• Seller: Rockpoint Group
• Brokers: Adam Spies, Douglas Harmon, Adam Doneger, Joshua King, Marcella Fasulo, Avery Silverstein, Willis Robbins & Brett Siegel - Newmark

The key individuals involved in this transaction include David Werner representing the buyer, David Werner Real Estate Investments. The seller is represented by the Rockpoint Group, while the brokerage services were provided by a team from Newmark, consisting of multiple brokers aiding in the transaction process.