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

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

  • Nick

    Samsung ain’t the Apple store…

  • stand

    it’s a nice building, but any time i hear the word Sitt now i begin to vomit in my mouth a little.