Midtown Building Nets Poor Profit Three Years After $120M Sale


45 East 53rd Street.
45 East 53rd Street.

The investor who bought 45 East 53rd Street for $120 million less than three years ago has sold it for a measly profit, property records show.

The landlord, identified in CoStar (CSGP) records as Brazilian investor Kirkland, sold the building to a Miami-affiliated limited liability corporation for $120.34 million—just about $340,000 more than its 2012 sale. The deal closed on May 26 and hit property records this afternoon.

Alex Kurkin, the Florida-based attorney representing the seller, did not immediately respond to an emailed request for comment. The buyer is listed on property records as Mikeone Ek East 53, LLC. The address tracks back to a Miami residence and no phone number was immediately available.

Kirkland, listed on property records as Kireland East 53rd Street New York, LLC, bought the building from Santander bank, whose headquarters were based in the building, as Commercial Observer reported at the time. Santander still leases roughly 91,000 square feet of the 130,000-square-foot office building, according to CoStar.

“All I can say is that Santander was a pleasure to deal with and everyone involved allowed this transaction to be concluded to both sides’ satisfaction in an unbelievably short period of time,” Mr. Kurkin emailed CO upon the sale in 2012. “It is a beautiful building ideally located in the city.”