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

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.


Related Articles

arrow_forward_ios
Clockwise from top left: 162 West 13th Street, 325 Avenue Y in Brooklyn, 1281 Viele Avenue in the Bronx (Credit: Google Maps)
Here’s what the $10M-$30M NYC investment sales market looked like last week
Here’s what the $10M-$30M NYC investment sales market looked like last week
Lionheart's Ophir Sternberg with 24-26 West 9th Street
Lionheart nabs Greenwich Village apartment building for $42M
Lionheart nabs Greenwich Village apartment building for $42M
Jared Kushner and 666 Fifth Avenue (Getty, David Shankbone, CC BY 2.5 - via Wikimedia Commons)
Congress probes Jared Kushner’s dealings amid 666 Fifth Avenue sale
Congress probes Jared Kushner’s dealings amid 666 Fifth Avenue sale
From left: QIA's Mansoor Bin Ebrahim Al-Mahmoud, Scott Rechler, and Meyer Orbach with One Sutton Place North
Rechler, Qataris join Orbach and Gotlib’s $850M apartment deal
Rechler, Qataris join Orbach and Gotlib’s $850M apartment deal
 Slate Property Group’s David Schwartz and Martin Nussbaum with 123 East 54th Street (Slate, Google Maps)
Slate buys Midtown apartment building, leading midsize i-sales
Slate buys Midtown apartment building, leading midsize i-sales
7 DeKalb Avenue with Avanath Capital Management CEO Daryl Carter and Daniel Brodsky (Brodsky, Avanath Capital, Getty)
Brodsky selling DoBro apartments for $100M
Brodsky selling DoBro apartments for $100M
159 Broadway in Brooklyn and Madison Realty Capital’s Josh Zegen (Getty, Madison Realty Capital, Stonehill & Taylor Architects)
Madison Realty’s pickup of Williamsburg hotel site tops midsize i-sales
Madison Realty’s pickup of Williamsburg hotel site tops midsize i-sales
From left: Wafra’s Fawaz Al-Mubaraki and The Westover Companies’ Guntram Weissenberger with 138 East 12th Street (JLL, Getty, Wafra, The Westover Companies)
Wafra sells East Village’s The Nathaniel for $57M
Wafra sells East Village’s The Nathaniel for $57M
arrow_forward_ios

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

Loading...