Commerz Real Acquires Office Building In FiDi For $850M

Commerz Real has acquired an office asset located at 100 Pearl Street in the Financial District (FiDi) of New York City. The property spans approximately 967,886 square feet and was sold by GFP Real Estate and Northwind Group. The office asset was brokered by Adam Spies, Doug Harmon, Adam Doneger, and Marcella Fasulo from CushWake. The transaction closed on September 30, 2021, for a total sale price of $850,000,000, resulting in a price per square foot of $878.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $850,000,000
• Address: 100 Pearl Street
• Market: FiDi
• Buyer: Commerz Real
• Seller: GFP Real Estate & Northwind Group
• Brokers: Adam Spies, Doug Harmon, Adam Doneger, Marcella Fasulo - CushWake
• Square Footage: 967,886
• Price per Square Foot: $878

This transaction highlights the significant involvement of Commerz Real as the buyer, and GFP Real Estate and Northwind Group as the sellers. The deal was facilitated by the brokers Adam Spies, Doug Harmon, Adam Doneger, and Marcella Fasulo from CushWake, who played a crucial role in the successful completion of the transaction.