Sales Deals of the Week: NYC Luxury Condo Developer’s Dream Dies

The top investment sales from April 15 to April 19


Take your sunglasses off for this week’s deal sheet. A distressed development site near Manhattan’s High Line sold for $87.4 million, leaving the seller, Casco Development, drowning in debt. And a Miami Beach office building known as The Lincoln changed hands for at a discount two years after a deal that would have valued it $30 million higher fell through. Plus, a new owner-occupier has joined the chat, but it’s not a conspiracy.

Amount Address Buyer Seller Brokers Asset
$87.4 million 540 West 21st Street; Manhattan Legion Investment Group Casco Development N/A Development site
$62.5 million 1691 Michigan Avenue; Miami Beach, Fla. Black Lion Clarion Partners Newmark’s Jeremy Hakala, Clay Sidner and Brandon Shores represented Black Lion. CBRE’s Christian Lee and Sean Kelly represented Clarion. Office
$31 million 129 West 29th Street; Manhattan New Tang Dynasty Samson Management N/A Office
$12.4 million 3047 Biscayne Boulevard; Edgewater, Fla. Grupo Frali 3-H Group Apex Capital Realty’s Francisco Rodriguez and Ovy Anghel Development site

Sales Deals of the Week reflect deals closed or announced from April 15 to April 19. Information on sales can be sent to