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271 11th Avenue

The Office property located in New York that spans 1,200,000 square feet sold for $900,000,000 or $750 PPSF. The deal closed 50 months and 10 days ago. The brokers of the deal were Darcy Stacom and William (Bill) Shanahan

  • Location image 271 11th Avenue, Brooklyn, NY 11215
  • Sold Value
    image $900,000,000
    image $750
  • Asset Type image Office
  • Area image 1,200,000 SF
  • Parties image2 Brokers,1 Agency
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Darcy Stacom icon icon icon

CBRE
  • Deals 26
  • Volume $7,520,000,000
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William (Bill) Shanahan icon icon

CBRE
  • Deals 19
  • Volume $5,970,000,000
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CBRE

Agency
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Comparables: 271 11th Avenue

Showing 4 of 5

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Price Icon $930,000,000

  • StatusSOLD, $775 PPSF
  • Date03/01/22
  • Address77 West 66th Street, New York City, New York 10023, United States
  • Address77 West...
  • AssetOFFICE
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Price Icon $855,000,000

  • StatusSOLD, $988 PPSF
  • Date12/05/21
  • Address452 5th Avenue, Manhattan, New York, NY, USA
  • Address452 5th...
  • AssetOFFICE
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Price Icon $850,000,000

  • StatusSOLD, $878 PPSF
  • Date09/30/21
  • Address100 Pearl Street, New York, NY 10004, USA
  • Address100 Pearl...
  • AssetOFFICE
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Price Icon $815,000,000

  • StatusSOLD, $715 PPSF
  • Date10/01/19
  • Address220 East 42nd Street, New York, NY 10017, USA
  • Address220 East...
  • AssetOFFICE
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This Deal on Social

IN CONTRACT
IMAGE: David Welsh, Robert Lapidus (@Rlapidus212) and David Levinson
DATE: 07/29/2018
ADDRESS: 271 11th Ave
PROPERTY NAME: #TerminalWarehouse
CITY: #NewYork #NYC
MARKET: #Chelsea
ASSET TYPE: #Office #Development

PRICE: $900,000,000
SF: 1.2 Million
PPSF: $750

SELLER: Waterfront NY and Greenoak Real Estate
BUYER: L&L Holding Co. and Normandy Real Estate Partners; Finn Wentworth, David Welsh, and Jeff Gronning
BROKERS: @CBRE Darcy Stacom & Bill Shanahan

NOTE: WFNY purchased the #property for 12M in 1983.
PLANS: Convert 500K SF of Storage into Office or some other use per @KeikoMorris of @WSJ. –

FUN FACTS: @Rlapidus212 & Levinson ( “L&L” ) are also building #425Park, the first full block office skyscraper built on Park Avenue in nearly 50 years #👑. They together own/manage 6+ Million Sf of Class A Commercial Office in #Manhattan. EST in 2000, and now have grown a team of 250 people.

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IN CONTRACT
IMAGE: David Welsh, Robert Lapidus (@Rlapidus212) and David Levinson
DATE: 07/29/2018
ADDRESS: 271 11th Ave
PROPERTY NAME: #TerminalWarehouse
CITY: #NewYork #NYC
MARKET: #Chelsea
ASSET TYPE: #Office #Development

PRICE: $900,000,000
SF: 1.2 Million
PPSF: $750

SELLER: Waterfront NY and Greenoak Real Estate
BUYER: L&L Holding Co. and Normandy Real Estate Partners; Finn Wentworth, David Welsh, and Jeff Gronning
BROKERS: @CBRE Darcy Stacom & Bill Shanahan

NOTE: WFNY purchased the #property for 12M in 1983.
PLANS: Convert 500K SF of Storage into Office or some other use per @KeikoMorris of @WSJ. –

FUN FACTS: @Rlapidus212 & Levinson ( “L&L” ) are also building #425Park, the first full block office skyscraper built on Park Avenue in nearly 50 years #👑. They together own/manage 6+ Million Sf of Class A Commercial Office in #Manhattan. EST in 2000, and now have grown a team of 250 people.

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Contact Darcy Stacom

Darcy Stacom has been a prestigious leader in the real estate industry for over 40 years. As Chairman and Head...

In his more than three decades in real estate, Bill Shanahan has sold, financed, and structured some of the industry’s...

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