August 26, 2019
Nightingale Properties and Wafra Capital Partners have acquired the Coca-Cola Building in Manhattan’s Plaza District. The sales price was reported as $907 million.
Built in 1927, the 17-story, 354,000-square-foot office building served as the headquarters for NBC until 1933, when the network moved to Rockefeller Center. Coca-Cola acquired the property, which is located at 711 Fifth Ave., in 1983. In December, Coca-Cola tapped a team from Cushman & Wakefield to sell the Plaza District property.
Doug Harmon, Adam Spies, Kevin Donner and Avery Silverstein of Cushman & Wakefield represented Coca-Cola in the transaction. Additionally, J.P. Morgan Chase provided a $700 million acquisition loan to Nightingale and Wafra for the property. Terms of the financing were not disclosed.
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