Yeshiva unloads more office buildings
Yeshiva University has unloaded three more office properties for a total of $87.5 million, the New York Observer reported. The bulk of the purchase price was for 920 Broadway, located at East 21st Street, which sold for $58.5 million. The 16-story office building has 110,000 rentable square feet and 96 feet of Broadway frontage.
Bob Knakal and John Ciraulo of Massey Knakal Realty Services arranged the sale. The buyer was not disclosed.
The 12-story 9 East 38th Street, located between Fifth and Madison avenues, has 94,000 rentable square feet. Next door is a three-story adjunct building, and together the buildings fetched $29 million in the sale.
“The office market in the vicinity of 920 Broadway is probably the hottest office district in Manhattan presently,” Knakal told the Observer, adding that the buildings sparked an “overwhelming amount of interest.”
As reported yesterday, Yeshiva unloaded several office buildings in Midtown South to a partnership between DivcoWest and Bruce Brickman for about $114 million. [NYO] —Zachary Kussin