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.


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
 The Qualtrics Tower at 1201 2nd Avenue in Seattle with Hana Financial CEO Kim Jung-tai and Skanska USA CEO Richard Kennedy (Google Maps)

$700M Seattle office tower buy would be among largest Covid-era property deals

$700M Seattle office tower buy would be among largest Covid-era property deals
Carlyle CEO Kewsong Lee and 24-02 Queens Plaza South in Long Island City (Getty; Atlas Capital)

Carlyle Group pockets $40M LIC trade school building

Carlyle Group pockets $40M LIC trade school building
“I believe in the future of Downtown Los Angeles”: Silverstein closes US Bank Tower buy

“I believe in the future of Downtown Los Angeles”: Silverstein closes US Bank Tower buy

“I believe in the future of Downtown Los Angeles”: Silverstein closes US Bank Tower buy
Onyx Equities' Jonathan B. Schultz (left) and John Saraceno, Jr. with 7 Sylvan Way (right) and 8 Campus Drive in New Jersey (Onyx Equities)

Onyx Equities acquires massive New Jersey office portfolio for $160M

Onyx Equities acquires massive New Jersey office portfolio for $160M
Clockwise from left: 950 University Avenue in the Bronx, 27-55 Jackson Avenue in Queens, 149 Pioneer Street in Red Hook and 416 Metropolitan Avenue in Williamsburg (Google Maps)

EB-5 investor snags Hunters Point resi development: Mid-market sales report

EB-5 investor snags Hunters Point resi development: Mid-market sales report
From left: Embassy Suites at 60 West 37th Street, Ashford Hospitality Trust CEO Douglas Kessler, Magna Hospitality Group CEO Robert Indeglia and Royalton Hotel at 44 West 44th Street (Ashford, Magna Hospitality, Google Maps)

Royalton, Garment District hotels sell at discounts

Royalton, Garment District hotels sell at discounts
2870 Ocean Avenue and Isaac Chetrit, and 936 Home Street (Google Maps) 

Chetrit family’s dev site buy tops weekly mid-market sales

Chetrit family’s dev site buy tops weekly mid-market sales
arrow_forward_ios

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

Loading...