Qatar state fund drops $91M on property near UN

Deal covers 5 commercial spaces at 809 United Nations Plaza, also Qatar’s permanent mission to the UN

TRD NEW YORK /
Nov.November 25, 2019 10:33 AM
809 First Avenue and QIA CEO Mansoor Bin Ebrahim Al-Mahmoud (Credit: Google Maps)

809 First Avenue and QIA CEO Mansoor Bin Ebrahim Al-Mahmoud (Credit: Google Maps)

The Qatar Investment Authority is again a Big Apple buyer.

It paid $91 million through an LLC for five commercial spaces at 809 First Avenue, also known as 809 United Nations Plaza, property records show. The building also serves as Qatar’s permanent mission to the U.N.

The seller was the Institute of International Education. A JLL team of Ken Siegel, Peter Riguardi, Clint Olson and Bob Knakal brokered the deal. The brokers couldn’t be reached for comment.

The deal comes a month after the sovereign wealth fund scooped up an iconic Manhattan hotel. A representative for the QIA declined to comment.

Its latest purchase, an office building between East 45th and 46th streets, is nearly 103,000 square feet. The building stands a few blocks from the United Nations Headquarters in Turtle Bay. The 11-story property has eight condominium units, and the QIA owns units on floors one through four and seven.

In October, the QIA bought the St. Regis Hotel off Fifth Avenue from Marriott International for $310 million. The fund’s hotel subsidiary, Katara Hospitality, also owns the Plaza Hotel.

Founded in 1919, the Institute for International Education is a nonprofit that focuses on cultural and educational exchange programs. It’s headquartered at the property and has been an owner there for decades. It’s not clear from public records who owns the other units at 809 UN Plaza.

The IIE did not return a request for comment.

Also in the area, Japanese company Shimizu Realty Development recently acquired 305 East 46th Street from the Vanbarton Group. The price was about $152 million. The building is fully leased to the U.N.


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