Sales Deals of the Week: $100M Goes ‘Poof’ in Hell’s Kitchen Office Deal

The top five sales across the country from June 10 to June 14

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Now you see it, now you don’t. Related sold 321 West 44th Street to Empire Capital and Namdar Realty Group for less than $50 million this week, wiping away two-thirds of the value of the 10-story office building. Meanwhile, on the East Side, Douglaston Development dropped $114.5 million on a 90-unit apartment building, which it plans to partially demolish to make way for a better apartment building. Plus, Tishman Speyer parked $100.2 million in South Florida. The Rockefeller Center landlord is now also the Rock Lake Business Center landlord, its first industrial acquisition in that state.

Amount Address Buyer Seller Brokers Asset
$114.5 million 1450 Third Avenue, New York Douglaston Development Valeray Real Estate Company N/A Multifamily
$100.2 million 3150-3250 NW 33rd Street, Pompano Beach; Fla. Tishman Speyer IDI Logistics N/A Industrial
Less than $50 million 321 West 44th Street, New York Empire Capital and Namdar Realty Group Related Fund Management CBRE’s Doug Middleton, Jack Stillwagon and Pat Arangio Office
$27.5 million 1670 West Broadway, Anaheim; Calif. David Yazdinian Dana Springer, Michelen Yamashita and Clark Biggers III Marcus & Millichap’s Tyler Leeson, Matt Kipp, Nicholas Kazemi and Drew Holden Multifamily
$23.5 million Palm Beach Gardens, Fla. GL Homes Landstar Development Group N/A Residential
N/A Desert Hot Springs, Calif. Shopoff Realty Investments N/A N/A Development site

Sales Deals of the Week reflect deals closed or announced from June 10 to June 14. Information on sales can be sent to editorial@commercialobserver.com.

SEE ALSO: Ben-Josef Group Pays $20M for 29-Unit Boerum Hill Apartment Building