The Real Deal New York

Eyal Ofer’s Global Holdings to buy 1250 Broadway for $565M

Jamestown and Murray Hill paid $310M for 721K sf tower in 2008

June 29, 2016 07:36AM

From left: 250 Broadway, Global Holdings' Eyal Ofer and Jamestown's Michael Phillips

From left: 250 Broadway, Global Holdings’ Eyal Ofer and Jamestown’s Michael Phillips

Eyal Ofer’s Global Holdings is in contract to buy 1250 Broadway, a Koreatown office tower owned by Jamestown and Murray Hill Properties, for $565 million. 

The Monaco-based mogul inked a contract in June for the 39-story, 721,000-square-foot tower, according to the New York Post.

Jamestown and Murray Hill put the property on the market in April through Eastdil Secured’s Doug Harmon and Adam Spies, with sources predicting it would fetch about $600 million. The in-contract price equates to just over $780 per square foot.

The firms bought the glass-and-steel tower, built in 1968, for $310 million in 2008 from SL Green Realty. The Class A tower is 84 percent occupied, and its largest tenant is the Visiting Nurse Service of New York, a nonprofit, which has 320,000 square feet across 15 floors. Its lease expires in December 2018.

Ofer’s Global Holdings is a frequent partner with Zeckendorf Development, on condominiums including 15 Central Park West and 50 United Nations Plaza, and is a co-developer of Greenwich Lane with the Rudin family. Global Holdings’ office portfolio includes 99, 120 and 410 Park Avenue, as well as 875 Third Avenue.

Earlier this year, Jamestown acquired a 49 percent stake in 63 and 200 Madison Avenue from George Comfort & Sons and Loeb Partners Realty, in a deal that valued those properties at a combined $1.15 billion. [NYP] — E.B. Solomont

 

 

 

 

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