SOLD
IStar Acquires BankNote Building In South Bronx For $65M
1231 Lafayette Avenue
Office
414,274 SF
414,274 SF
Summary
Sale
NEW YORK
Office
414,274 sqft
The BankNote Building, located at 1231 Lafayette Avenue in the South Bronx, has been sold in a closed property transaction. The office building, spanning a total area of 414,274 square feet, was sold for a price of $65,000,000, equating to a price per square foot of $157. The transaction took place between sellers Madison Marquette and Perella Weinberg Partners, and buyers iStar / Safehold, represented by Jay Sugarman.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $65,000,000
- Square Footage: 414,274
- Price per Square Foot: $157
The deal was facilitated by brokers Michael Rotchford, David Heller, Mark Todrys, and @Savills. Their expertise ensured a successful transaction for both the sellers and buyers involved in the deal.
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4
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3
Agencies
1
Details
SOLD
IMAGE: David Heller, Jay Sugarman & Michael Rotchford
DATE: 08/01/2019
ADDRESS: 1231 Lafayette Avenue (BankNote Building)
MARKET: South Bronx
ASSET TYPE: Office
SELLER: Madison Marquette & Perella Weinberg Partners
BUYER: iStar / Safehold – Jay Sugarman
BROKERS: Michael Rotchford, David Heller, Mark Todrys, @Savills
SALE PRICE: $65,000,000
SF: 414,274 PPSF: $157View on map
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Address1231 Lafayette Avenue
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