Biggest building buys in 2011

Starrett-Lehigh Building scores top spot, Midtown package comes in second

New York /
Feb.February 28, 2012 03:30 PM

Three out of the five biggest building buys in 2011, by price, were Manhattan office towers, according to figures from The Real Deal‘s 2012 Data Book. The biggest transaction of 2011 was the purchase of the Starrett-Lehigh Building, at 601 West 26th Street, by Scott Rechler’s RXR Realty for $920 million, as The Real Deal previously reported in our story about last year’s biggest commercial transactions. The 2.3 million-square-foot property, between 11th and 12th avenues, was previously owned by Shorenstein Properties, one of the nation’s largest landlords. A package comprised of 55 East 42nd Street — Also Called Park Avenue Plaza — and 49 East 52nd Street traded hands for $569 million last year, coming in at number two. The third-largest deal was for 401 East 34th Street, a 703-unit apartment building, which was purchased for $443 million by the real estate investment trust UDR. (See the 16 top building buys below.)

The $415.5 million purchase of Two Gotham Center, a Queens office tower, by H&R, a REIT, and the $401 million purchase of 140 East 45th Street in Manhattan by Rockwood rounded out the top five. Click here or on the link at the bottom of the site, to purchase a copy of the 2012 Data Book.

Biggest Building Buys of 2011


Related Articles

arrow_forward_ios
Empire Capital Holdings' Josh Rahmani, Hakimian Capital's Michael Hakimian, RXR's Scott Rechler and 1330 6th Avenue (Getty, Hakimian Capital, Empire Capital Holdings, 1330aofa.com)
Empire Capital, partners close on $320M deal for 1330 Sixth Ave
Empire Capital, partners close on $320M deal for 1330 Sixth Ave
From left: View's Rao Mulpuri and RXR's Scott Rechler (View, Getty)
RXR leads View’s raise of $200M in convertible notes
RXR leads View’s raise of $200M in convertible notes
A photo illustration of RXR's Scott Rechler along with 555Ten at 555 Tenth Avenue (left) and 475 Clermont in Brooklyn (right) (Getty, LoopNet, Facebook/475 Clermont)
RXR looks to cash in on NYC multifamily mania
RXR looks to cash in on NYC multifamily mania
From left: RFR Holdings' Aby Rosen and Blue Owl Capital's Doug Ostrover along with 3 World Trade Center (left), the Seagram building (middle) and 340 Madison Avenue (right) (Getty Images, Blue Owl Capital, Beyond My Ken, CC BY-SA 4.0 - via Wikimedia Commons)
Trio of office leases boost hopes at Class A buildings
Trio of office leases boost hopes at Class A buildings
RXR's Scott Rechler and SL Green's Marc Holliday with 5 Times Square (Getty Images, SL Green, 5 Times Square)
RXR lands $1.3B financing for 5 Times Square; SL Green in as partner
RXR lands $1.3B financing for 5 Times Square; SL Green in as partner
360 Huguenot, RXR's Scott Rechler and Hudson Meridian’s William Cote (RXR, Getty, Hudson Meridian)
RXR sues construction manager, alleging shoddy work in New Rochelle
RXR sues construction manager, alleging shoddy work in New Rochelle
RXR Realty’s Scott Rechler and 75 Rockefeller Plaza (Illustration by Kevin Cifuentes for The Real Deal with Getty Images, dconvertini/CC BY-SA 2.0/via Wikimedia Commons)
RXR lands $260 million refi for 75 Rockefeller Plaza
RXR lands $260 million refi for 75 Rockefeller Plaza
RXR CEO Scott Rechler and 620 Sixth Avenue (Photo Illustration by Steven Dilakian for The Real Deal with Getty Images, Beyond My Ken, CC BY-SA 4.0 - via Wikimedia Commons)
RXR sues insurers over infectious disease coverage
RXR sues insurers over infectious disease coverage
arrow_forward_ios

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

Loading...