Biggest building buys in 2011

Starrett-Lehigh Building scores top spot, Midtown package comes in second
February 28, 2012 03:30PM

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