August 27, 2017
New York City still has it — or least NYC has more than anywhere else.
Four of the 10 largest purchases of office properties bought in the U.S. in the first half of 2017 were in the New York area — even though the total amount of money that investors spent on properties fell sharply in the area over that same period, just as it did in the rest of the country.
The top deals include:
– 245 Park Avenue, New York. HNA Group paid $2.21 billion to sellers Brookfield Properties and New York State’s Teachers Retirement System.
– 60 Wall St., New York. GIC Real Estate + Paramount Group paid $1 billion to Paramount Group.
– The Landmark at Eastview, Tarrytown, NY. Regeneron Pharmaceuticals paid $720 million to BioMed Realty.
– 85 Broad St., New York (pictured). Ivanhoé Cambridge + Callahan Capital Properties paid $652 million to MetLife Real Estate + Beacon Capital Partners.
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