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85 Tenth Avenue

85 Tenth Avenue
New York, NY 10011
(212) 801-1000
Website
Office, Leasing/Rental

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

  • Year Built 1914
  • square feet 635,000
  • block and lot 1-00687-0029
  • BIN 1012277
  • Event Financing
  • Address 85 Tenth Avenue
  • Neighborhood Chelsea
  • Borough Manhattan
  • Square feet 11
  • Price $ 396,000,000
notes
The company secured a $396 million loan.
  • Event Office Leasing
  • Address 85 10th Avenue
  • Neighborhood Chelsea
  • Borough Manhattan
  • Square feet 180,000
notes
The technology company signed a lease.
  • Event Office Leasing
  • Address 85 10th Avenue
  • Neighborhood Chelsea
  • Borough Manhattan
  • Square feet 55,000
  • Price per foot $ 48.00
notes
The marketing agency signed a six-year sublease.
  • Event Sales
  • Address 85 10th Avenue
  • Neighborhood Chelsea
  • Borough Manhattan
  • Square feet 600,000
  • Price $ 430,000,000
  • Price per foot $ 716.67
notes
The former Oreo cookie factory is under contract for $430 million, or $717 per square foot. Somerset paid $294 million for the building in July 2005.
  • Event Office Leasing
  • Address 85 Tenth Avenue
  • Neighborhood Chelsea
  • Borough Manhattan
  • Square feet 56,000
  • Publication Date 08/01/2005
  • Event Date 06/22/2005
  • Party 1 Brokerage Newmark Grubb Knight Frank
  • Party 1 Broker David Falk, Peter Shimkin, Nick Berger
  • Party 2 Moet Hennessey USA
  • Party 2 Brokerage Cushman & Wakefield
  • Party 2 Broker Don Preate, Frank Coco, Jamie Katcher
notes
Spirits distributor to relocate hq from 2 Park Ave
  • Event Sales
  • Address 85 Tenth Avenue
  • Neighborhood Chelsea
  • Borough Manhattan
  • Square feet 600,000
  • Price $ 300,000,000
  • Price per foot $ 500.00
  • Publication Date 08/01/2005
  • Event Date 06/22/2005
  • Party 1 A. Gordon, Belvedere Capital, I. Cohen, ATC Management
  • Party 1 Brokerage Eastdil Secured
  • Party 1 Broker Douglas Harmon
  • Party 2 Somerset Partners
  • Party 2 Brokerage in-house
  • Party 2 Broker Keith Rubenstein, Marshall Allan
notes
Former Nabisco factory sold for $300 million; reportedly record price per sf for area
  • Event Office Leasing
  • Address 85 Tenth Avenue
  • Neighborhood Chelsea
  • Borough Manhattan
  • Square feet 56,000
  • Publication Date 03/01/2005
  • Event Date 01/20/2005
  • Party 1 I. Cohen, A. Gordon, Belvedere Cap. partnership
  • Party 1 Brokerage Newmark Grubb Knight Frank
  • Party 1 Broker David Falk, Peter Shimkin, Nick Berger
  • Party 2 CSTV: College Sports Television
  • Party 2 Brokerage Cushman & Wakefield
  • Party 2 Broker Jared Horowitz, Barry Zeller
notes
Cable network expands and relocates
  • Event Office Leasing
  • Address 85 Tenth Avenue
  • Neighborhood Chelsea
  • Borough Manhattan
  • Square feet 20,000
  • Publication Date 06/01/2004
  • Event Date 04/22/2004
  • Party 1 Irwin Cohen-led partnership
  • Party 2 Chef Mario Batali and partners
notes
Restaruant Il Posto to open across from Chelsea Market