Sales Deals of the Week: D.C.’s Biggest Office Sale of the Year
The top sales across the country from March 18 to March 22.
By The Editors March 22, 2024 10:00 am
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This week, the nation’s capital saw its biggest office deal of the year so far with PRP Real Estate Investment dropping $323 million for the Market Square office complex. Elsewhere, a joint venture went into contract for a 24-building rent-stabilized portfolio spread across New York City for $180 million, a 40 percent loss for seller Sentinel Real Estate.
| Amount | Address | Buyer | Seller | Brokers | Asset |
|---|---|---|---|---|---|
| $323 million | Market Square; Washington, D.C. | PRP Real Estate Investments | Blackstone and Columbia Property Trust | N/A | Office |
| $180 million | 24-building rent-stabilized portfolio in New York City | Alma Realty, PH Realty Capital and Rockledge | Sentinel Real Estate | N/A | Multifamily |
| $37.1 million | 5665 Dennis McCarthy Drive; Lebec, Calif. | N/A | Dedeaux Properties and Basis Investment Group | N/A | Industrial |
| $20.2 million | 45 Suffolk Street | Chinese-American Planning Council | Gotham Organization | N/A | Commercial condominium |
Sales Deals of the Week reflect deals closed or announced from March 18 to March 22. Information on sales can be sent to editorial@commercialobserver.com.
45 Suffolk Street, 5665 Dennis McCarthy Drive, Market Square, Alma Realty, Basis Investment Group, Chinese-American Planning Council, Columbia Real Estate, Dedeaux Properties, Gotham Organization, PH Realty Capital, PRP Real Estate Investments, Rockledge, Sentinel Real Estate
