search

The Real Deal Logo

Trending

Lawmakers reach sweeping housing deal with “good cause eviction,” new 421aLawmakers reach sweeping housing deal with “good cause eviction,” new 421aHarry Macklowe faces major losses on Miami, Midtown projectsHarry Macklowe faces major losses on Miami, Midtown projectsDavid Werner strikes $115M deal to snap up 100 Wall Street at big discountDavid Werner strikes $115M deal to snap up 100 Wall Street at big discount$1.8B in Parkmerced debt heads to special servicing$1.8B in Parkmerced debt heads to special servicing
New York

Queens landlord picks up Midtown office building for $27M

Seven-story office building sits near One Vanderbilt site

Suresh Sani and 12 East 44th Street
Suresh Sani and 12 East 44th Street

First Pioneer Properties bought a seven-story office building not far from the planned One Vanderbilt tower late last month for $26.5 million, property records show.

The company, a Queens-based landlord headed by Suresh Sani, purchased the 23,800-rentable-square-foot building at 12 East 44th Street from the Tristar Group, according to records filed Monday with the city. Tristar had paid $3 million back in 1995 for the building and its neighbor.

Sign Up for the undefined Newsletter

First Pioneer could not be immediately reached for comment. The company owns a handful of other small office buildings in Midtown, according to its website.

Rents on the office floors range from $43 to $54 per square foot, according to CoStar.

The building sits just west of Madison Avenue and just a stone’s throw away from where SL Green is planning to build the 1.6 million-square-foot One Vanderbilt office tower. Just last week, the project passed a major hurdle when the City Council’s zoning committee approved rezoning the area around the tower.

Tags
Midtown Office Market