Bulding sales

Bulding sales

$26.5 Million Sale of Daytop Building May be Stymied by Bankrupcy

54 West 40th Street

Daytop Village’s bankruptcy earlier this month may stymie a nearly two-year old deal to sell its Bryant Park headquarters a source told The Commercial Observer.

In 2010, the drug and alcohol treatment facility reached an agreement to hand the 50,000-square-foot building, 54 West 40th Street, to investor Eric Hadar for $26.5 million. The transaction was arranged to close however only after Daytop found space to lease so it could relocate – a deal it never secured. Read More

Bulding sales

133 Greenwich Sells for $27.9 Million

133 Greenwich Street

A development site in Lower Manhattan that investor Sam Zell tried to purchase two years ago has be acquired by Hidrock Realty for $27.9 million, The Commercial Observer has learned.

The vacant parcel, located at 133 Greenwich Street, can accommodate up to about 135,000 square feet of hotel or commercial development. According to sources, residential space can also be built but the density of the development must be reduced for that type of project according to the zoning at the site. Read More