July 12, 2019 Comments Off on $11M in Office Co-op Sales Close in Midtown South Views: 540 Downtown New York, New York News

$11M in Office Co-op Sales Close in Midtown South

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Rudder Property Group (RPG) has closed on two office cooperative sales totaling $10.7 million in Midtown South.

In the first transaction, independent book publisher Soho Press purchased a $4.5-million, 6,096-square-foot office co-op at 227 W. 17th St. RPG’s Michael Rudder and Mike Heller represented sellers Michael Steinberg & Suzanne Slesin; Cushman & Wakefield’s Carri Lyon represented Soho Press.

“Soho Press was scheduled to see its rent double if it renewed, and was immediately drawn to the benefits of owning its own office space,” said Rudder.

In the second transaction, New York Temperature Controls paid $6.2 million for a 7,616-square-foot co-op at 115 W. 29th St.  Rudder and Heller represented seller Tecny Group, while Hanover Square Holdings’ Maureen Tighe represented the buyer.

“This space allows the company to occupy a portion of the floor while renting out the remaining space to an existing subtenant, which will remain in place,” said Rudder.

Pictured: 115 W. 29th St.

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