The Real Deal New York

Top five commercial sales of the month

Five priciest August deals total $719 million in volume

September 10, 2012 06:15PM
By Adam Pincus

The most expensive commercial transaction in New York City recorded last month was the purchase of the ground under the Sports Illustrated Building, at 135 West 50th Street, by a UBS Realty Investors affiliate for $279 million. The seller was 14 E. 60th St. Associates, a partnership. CBRE Group’s Darcy Stacom and William Shanahan represented the sellers. Brad Siderow of the Siderow Organization represented UBS’ client.

Cushman & Wakefield’s Steven Kohn and Helen Hwang represented William Macklowe Co. in the sale of two properties to two separate buyers for a total of $247 million.

Riu Hotels & Resorts, meanwhile, paid $111 million in a direct purchase of a development site from Glenwood Management. And Westbrook Partners paid $82 million for 88 Lexington Avenue. The seller was a company at the address of Halstead Management.

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