The Real Deal New York

Thor, Taconic’s $200M sale of Meatpacking building sets record

TIAA-CREF is buying the office property, which is fully leased by tech giant Samsung
January 28, 2015 08:00AM

Thor Equities and Taconic Investment Partners are selling Samsung’s offices in the Meatpacking District, located at 837 Washington Street, for a reported record price in the neighborhood.

Financial services firm TIAA-CREF is in contract to buy the six-story, roughly 63,000-square-foot office building for $200 million from the sellers, according to the New York Post. The price works out to $3,158 per square foot. Thor’s Joe Sitt bought a 75 percent stake in the building for $55 million in 2011.

Samsung is leasing the entire building. In addition to the office space,  the electronics giant has set up a marketing center in the property where the company introduces new products, the newspaper reported. Rent at the building is $125 per square foot for the office space and $450 per square foot at the 8,500-square-foot retail component.

Eastdil Secured’s Douglas Harmon, Adam Spies and Kevin Donner marketed the Morris Adjmi-designed building [NYP, 1st] — Claire Moses