The 15 best US office deals inked in the last five years (hint: most are in NYC)

These deals made the most in resale gains

TRD New York TRD WEEKEND EDITION /
Oct.October 08, 2017 09:00 AM

Sales of Russell Investments Center, left, One Kendall Square, back, and 550 Madison Avenue, left, brought in largest resale gains over the past five years. (Joe Mabel, left/Citizen59, right/Nick Allen, back)

Who made the most in commercial U.S. office deals over the last five years? According to data by Yardi Matrix, which focused on buildings sold between 2012 and 2017 and were held for up to three years, here are the deals that made the most in resale gains since 2012.

1
Russell Investments Center
Seattle
Purchase date: 2009
Resale date: 2012
Resale gain: $325,000,000
Seller: Northwestern Mutual Real Estate Investors
Changes prior to sale: underwent cosmetic renovation

2
One Kendall Square
Cambridge
Purchase date: 2014
Resale date: 2016
Resale gain: $306,000,000
Seller: DivcoWest
Changes prior to sale: underwent cosmetic renovation

3
550 Madison Avenue
New York
Purchase date: 2013
Resale date: 2016
Resale gain: $300,000,000
Seller: Chetrit Group

4
222 Broadway
New York
Purchase date: 2012
Resale date: 2014 (majority stake deal)
Resale gain: $272,000,000
Seller: Beacon Capital Partners + L&L Company

5
530 Fifth Avenue
New York
Purchase date: 2012
Resale date: 2014
Resale gain: $185,000,000
Seller: Rockwood Capital + Murray Hill Properties + Jamestown + Chera family’s Crown Acquisitions
Changes prior to sale: underwent cosmetic renovation

6
4 New York Plaza
New York
Purchase date: 2010
Resale date: 2012
Resale gain: $163,000,000
Seller: Harbor Group International

7
575 Lexington Avenue
New York
Purchase date: 2012
Resale date: 2015
Resale gain: $142,258,743
Seller: Normandy Real Estate Partners
Changes prior to sale: underwent cosmetic renovation

8
1440 Broadway
New York
Purchase date: 2013 (majority stake deal)
Resale date: 2013
Resale gain: $140,567,120
Seller: Rockpoint Group

9
245 First Street
Cambridge
Purchase date: 2013
Resale date: 2016
Resale gain: $118,650,000
Seller: Jamestown

10
Michelson
Irvine
Purchase date: 2009
Resale date: 2012
Resale gain: $117,000,000
Seller: Emmes

11
One South Wacker
Chicago
Purchase date: 2012
Resale date: 2015
Resale gain: $116,000,000
Seller: Harbor Group International + Clal Group
Changes prior to sale: underwent cosmetic renovation

12
123 William Street
New York
Purchase date: 2013
Resale date: 2015
Resale gain: $111,318,112
Seller: East End Capital
Changes prior to sale: underwent cosmetic renovation

13
80 West End Avenue
New York
Purchase date: 2013
Resale date: 2014
Resale gain: $110,650,000
Seller: Extell Development/Ring + Kushner Companies

14
21 Penn Plaza
New York
Purchase date: 2011
Resale date: 2014
Resale gain: $104,644,050
Seller: Savanna + Feil Organization
Changes prior to sale: underwent cosmetic renovation

15
200 South Wacker Drive
Chicago
Purchase date: 2011 (majority stake deal)
Resale date: 2013
Resale gain: $98,275,000
Seller: Pearlmark Real Estate + Equity Group Investment + TIER REIT
Changes prior to sale: underwent cosmetic renovation

[Commercial Café] – E.K. Hudson


Related Articles

arrow_forward_ios
With a cooling trade war, stocks perform well, including real estate. (Credit: iStock)

Real estate stocks push up this week as U.S.-China trade tensions ease

Real estate stocks push up this week as U.S.-China trade tensions ease
416 West 25th Street and Maverick Real Estate Partners principal David Aviram (Credit: Google Maps and LinkedIn)

Chelsea landlord claims “predatory” lender is charging a crippling interest rate as punishment after losing foreclosure case

Chelsea landlord claims “predatory” lender is charging a crippling interest rate as punishment after losing foreclosure case
Photo illustration of GDSNY CEO Michael Kirchmann, Klövern CEO Rutger Arnhult and 417 Park Avenue (Google Maps, iStock)

Klövern, GDS finance 417 Park Ave with $100M in Swedish bonds

Klövern, GDS finance 417 Park Ave with $100M in Swedish bonds
Joy Construction’s Eli Weiss (left), Maddd Equities’ Jorge Madruga (top), and Drew Katz with 20 Bruckner Boulevard in the Bronx (Getty; Google Maps)

“Dream” comes true for long-vacant Bronx ice house

“Dream” comes true for long-vacant Bronx ice house
“We’re not in the business of land-grabbing:” Hana CEO on the future of flex space

“We’re not in the business of land-grabbing:” Hana CEO on the future of flex space

“We’re not in the business of land-grabbing:” Hana CEO on the future of flex space
 David Bistricer of Clipper Equity and 77 Commercial Street in Greenpoint (REIT and Google Maps)

Bistricer lands $386M construction loan for Greenpoint project

Bistricer lands $386M construction loan for Greenpoint project
109 East 79th Street and Victor Sigoura (Google Maps; Getty)

Victor Sigoura lands $133M construction loan for UES condo

Victor Sigoura lands $133M construction loan for UES condo
From left: Mapleton Rentals at at 1555-1575 61st Street in Mapleton, 1440 Story Avenue in Soundview, Beard-Van Brunt at 411 Van Brunt Street in Red Hook

Abraham Leser targets $74M refi for Brooklyn, Bronx properties

Abraham Leser targets $74M refi for Brooklyn, Bronx properties
arrow_forward_ios

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

Loading...