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Sotheby's Acquires Office Building In Long Island City For $82M

25-11 49th Avenue
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This Office property located in NY was sold for $82,000,000 about 2 years ago. The brokers of the deal were Joshua (Josh) King, Adam Spies, Avery Silverstein, and Adam Doneger

An office asset located at 25-11 49th Avenue in Long Island City was recently sold. The property, spanning 240,000 square feet, was sold for a total of $82,000,000, yielding a price per square foot of $341. The transaction took place on February 24, 2022.

Summary of Transaction Details:

  • Property Type: Office
  • Transaction Amount: $82,000,000
  • Address: 25-11 49th Avenue
  • Market: Long Island City
  • Square Footage: 240,000

The buyer of the property was Sotheby's, while the sellers were Columbia Property Trust and State Street. The deal was facilitated by brokers from Cushman & Wakefield, namely Josh King, Adam Spies, Adam Doneger, and Avery Silverstein.

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Deals
  • Location
    25 49th Avenue, Queens, New York 11101, United States25 49th Avenue, Queens, New York 11101, United States
  • Sale Price
    $82,000,000$82,000,000
    $341 PPSF$341 PPSF
  • Area
    240,000 SF240,000 SF
  • Asset Type
    OfficeOffice
  • Parties
    4 Brokers, 1 Agency4 Brokers, 1 Agency

Agents

Joshua (Josh) King

Joshua (Josh) King

Deals56
Financed$10.2B

Avery Silverstein

Avery Silverstein

Deals21
Financed$3.3B

Adam Spies

Adam Spies

Deals146
Financed$30.2B

Adam Doneger

Adam Doneger

Deals93
Financed$20.9B

Agency

Newmark

Newmark

Agency
Deals3894
Volume$397.4B

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Deal Summary

SALE IMAGE: Adam Spies, Adam Doneger, Nelson Mills, Josh King & Avery Silverstein DATE: 02/24/2022 ADDRESS: 25-11 49th Avenue MARKET: Long Island City ASSET TYPE: Office BUYER: Sotheby's SELLER: Columbia Property Trust & State Street BROKERS: Josh King, Adam Spies, Adam Doneger (@ADoneger) & Avery Silverstein (@Avery.Morgan810) - Cushman & Wakefield (@CushWake) SALE PRICE: $82,000,000 SF: 240,000 ~ PPSF: $341

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25-11 49th Avenue

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