Harbor taps CBRE to market Broad Street office tower

New York /
Dec.December 13, 2011 10:07 AM

alternate
text
From left: Darcy Stacom and Bill Shanahan, vice chairmen of CBRE, and 4 New York Plaza
The 1.1 million-square-foot office tower at 4 New York Plaza is being marketed for a sale by a Darcy Stacom and Bill Shanahan-led CBRE Group team, according to the New York Post.

The building, at 115 Broad Street near Water Street, is 95 percent occupied, thanks largely to an 800,000-square-foot lease held by JPMorgan Chase that runs through 2025. The New York Daily News and American Media are also tenants of the building.

The building is owned by Virginia-based Harbor Group, which purchased the building for just $108 million — a recession-friendly price, according to the Post — in January 2010.

Harbor Group owns about 9.8 million square feet of commercial property and about 20,000 apartments around the country. It has become increasingly active in New York City in the last two years, as it acquired 1412 Broadway in November 2010 for $150 million and took control of a $31 million, 214-unit Upper Manhattan portfolio from Vantage Properties in August. [Post, 2nd item]


Related Articles

arrow_forward_ios
CBRE CEO Robert Sulentic (Getty, iStock)

CBRE latest real estate firm to hop on SPAC bandwagon

CBRE latest real estate firm to hop on SPAC bandwagon
CBRE CEO Bob Sulentic; the firm has shifted its global HQ from LA to Dallas. (CBRE, Getty)

“Sad day” in LA: CBRE’s corporate exit latest blow to dented office market

“Sad day” in LA: CBRE’s corporate exit latest blow to dented office market
JLL CEO Christian Ulbrich and CBRE CEO Bob Sulentic (Getty; CBRE; Pixabay)

JLL, CBRE keep cutting as recovery drags

JLL, CBRE keep cutting as recovery drags
Bob Sulentic (Getty, iStock)

CBRE income falls nearly 10%

CBRE income falls nearly 10%
CBRE CEO Robert Sulentic and the Dallas HQ building at 2100 McKinney Avenue in Texas (CBRE; Google Maps)

CBRE moving HQ from LA to Dallas

CBRE moving HQ from LA to Dallas
(Getty)

Manhattan retail asking rents fall to nine-year low

Manhattan retail asking rents fall to nine-year low
445 Fifth Avenue and Harbor Group's Jordan Slone (Google Maps)

Harbor Group sued after defaulting on $40M loan at Midtown retail space

Harbor Group sued after defaulting on $40M loan at Midtown retail space
MetLife Building and Matt Van Buren, CBRE’s tri-state president (Getty, CBRE)

CBRE closes 2 offices, expands presence at MetLife HQ

CBRE closes 2 offices, expands presence at MetLife HQ
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...