The Real Deal New York

85 Tenth Avenue is a 635,000-square-foot, 11-story office building, located on the border of West Chelsea and the Meatpacking District. The building, a former Nabisco cookie factory erected in 1913, contains 10 floors of office space and 40,500-square feet of retail-restaurant spaces. The building, where Nabisco baked its first Oreo cookies, sits directly across the street from The High Line, public park built on a disused, elevated rail line. In 2014, internet-search giant Google, agreed to lease 180,000 square feet at 85 Tenth Avenue, which is near its other New York offices.

Vornado Realty Trust is a lender on the property and owns a 50% stake with Related Companies, the developer and landlord. Related acquired the building in 2007 from Somerset Partners for $430 million. Somerset acquired the building in 2005 for $300 from Angelo Gordon of Belvedere Capital and Irwin Cohen. Gordon and Cohen bought the building as part of a five building portfolio in 1998 before selling it in 1999 and then buying it back again in 2003. From 1998 to 1998, Level 3 Communications, a telecommunications firm, owned the building, using it to house equipment to handle the anticipated surge in Internet transactions during the dot-com boom.

-MK