Planting flags in the Big Apple

A country-by-country breakdown of the top 20 commercial acquisitions in Manhattan involving foreign buyers (from July 2017 to June 2019)

Sep.September 01, 2019 01:00 PM

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Foreign buyers acquired just under $8 billion worth of commercial property in the five boroughs in 2017 and $9.5 billion last year, down from about $20.2 billion in 2015 and $15.8 billion in 2016, according to Real Capital Analytics.

As Chinese capital continues to recede, though, a new foreign investment landscape has emerged with a diverse mix of other cross-border players.

Related: NYC’s new global investment fix

Here are the top 20 commercial acquisitions in Manhattan involving foreign buyers between July 2017 and June 2019, according to an analysis of RCA data by The Real Deal.

“The Canadians and the Germans are really the two groups that are most active in the [New York City] market. And really it’s Allianz that’s a big deal for the Germans,” said veteran investment sales broker Bill Shanahan of CBRE.

1. 30 Hudson Yards (commercial condo)
VALUE: $2.2 billion
BUYER: Allianz, Arizona State Retirement System, Related Companies
COUNTRY: Germany

2. 666 Fifth Avenue (ground lease)
VALUE: $1.29 billion
BUYER: Brookfield AM
COUNTRY: Canada

3. TSX Broadway (additional equity)
VALUE: $719 million
BUYER: UBS, SoftBank Group and partners
COUNTRY: Switzerland, Japan

4. St. John’s Terminal
VALUE: $700 million
BUYER: OMERS, CPP Investment Board
COUNTRY: Canada

5. Park Lane Hotel (increased stake)
VALUE: $654.5 million
BUYER: Mubadala
COUNTRY: UAE

6. Random House Tower
VALUE: $633 million
BUYER: QSuper
COUNTRY: Australia

7. Saatchi & Saatchi Building
VALUE: $615 million
BUYER: NBIM, Trinity Real Estate, Hines
COUNTRY: Norway

8. Plaza Hotel
VALUE: $600 million
BUYER(S): QIA
COUNTRY: Qatar

9. 685 Third Ave.
VALUE: $467.5 million
BUYER: Unizo Holdings
COUNTRY: Japan

10. 1515 Broadway (43% stake)
VALUE: $460 million
BUYER: Allianz
COUNTRY: Germany

11. 101 West End Ave.
VALUE: $416 million
BUYER: PGGM (NL), Dermot Company
COUNTRY: Netherlands

12. Standard Hotel
VALUE: $340 million
BUYER: Gaw Capital
COUNTRY: Hong Kong

13. 222 East 41st St.
VALUE: $332.5 million
BUYER: Commerz Real
COUNTRY: Germany

14. 1065 Second Ave.
VALUE: $277.5 million
BUYER: OMERS
COUNTRY: Canada

15. Terminal Stores (30% stake)
VALUE: ~$270 million
BUYER: Allianz
COUNTRY: Germany

16. 333 West 34th St.
VALUE: $255 million
BUYER: Brookfield AM
COUNTRY: Canada

17. 21 West End Ave. (30% stake)
VALUE: $195 million
BUYER: PGGM (NL)
COUNTRY: Netherlands

18. 400 Madison Ave.
VALUE: $194.5 million
BUYER: Daishin Securities
COUNTRY: South Korea

19. The Helux/The Landon
VALUE: $193 million
BUYER: PGGM (NL), Dermot Company, USAA
COUNTRY: Netherlands

20. West End Collegiate Church Development Site
VALUE: $158 million
BUYER: Daishin Securities, Alchemy Properties
COUNTRY: South Korea


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