Midtown Equities buys landmarked Fidi office building for $140M

1 Broadway's largest tenant is set to move uptown

TRD New York /
May.May 16, 2018 08:30 AM

1 Broadway and Joseph Cayre

Midtown Equities has swooped in to buy the historic 1 Broadway for $140 million.

The 12-story landmarked office building at the southern tip of Manhattan, is being sold by a Swiss trust that has owned the building since 2000, according to the New York Post. The seller is being represented by Adam Spies, Douglas Harmon, Josh King and Marcella Fasulo of Cushman & Wakefield.

It is another historical pickup for Midtown, which redeveloped the landmarked Empire Stores in Dumbo. The firm, led by the Cayre family, also has investments in the World Trade Center and residential brokerage CORE.

The 218,000-square-foot building built in 1920 is expected to be developed into modern offices, according to the Post. It will soon be empty as its largest tenant, the intellectual property law firm Kenyon and Kenyon, moves uptown, according to the report. Citibank has a lease for bottom floor space that will end next year.

Midtown recently went into contract to sell a newly developed rental project at 155 Attorney Street for  $40 million. [NYP] – David Jeans


Related Articles

arrow_forward_ios
(iStock)

Who’s returning to the office? Almost no one

Who’s returning to the office? Almost no one
Joe Moinian and 123 Linden Blvd. (Moinian Group)

These were the top outer borough loans in July

These were the top outer borough loans in July
Clipper Equity's David Bistricer (REIT)

David Bistricer’s Clipper Realty reports record Q2 profit

David Bistricer’s Clipper Realty reports record Q2 profit
Vornado CEO Steven Roth and a rendering of the Farley Post Office building (Getty, iStock, SOM)

Vornado will install facial recognition tech in all its buildings

Vornado will install facial recognition tech in all its buildings
28 Liberty Street (Wikipedia)

Manhattan’s office leasing sees busiest month since January

Manhattan’s office leasing sees busiest month since January
Maison Kayser (Photo via Tools of Men via Flickr)

Maison Kayser may bid New York adieu

Maison Kayser may bid New York adieu
Newmark’s Brian Waterman with 7 Hanover Square (Google Maps, Twitter)

Newmark nabs REBNY prize for deal with NYC Health + Hospitals

Newmark nabs REBNY prize for deal with NYC Health + Hospitals
The legislation from a City Council member introduced a bill to temporarily repeal the commercial rent tax for businesses during the Covid-19 state of emergency. (Getty, iStock)

Commercial rent tax cut introduced in City Council

Commercial rent tax cut introduced in City Council
arrow_forward_ios

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

Loading...