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

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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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