New York

Sherwood follows McCourt sale with 440 Ninth Ave listing

From left: CBRE's William Shanahan, <a class="lavamap_link" style="text-decoration: none !important; color: inherit; box-shadow:none !important; pointer-events: none; cursor: default;" href="https://lavamap.com/property/440-9-Avenue-New-York-NY-10001/1007580082-0" target="_blank" data-address="440%209%20Avenue%2C%20New%20York" data-label="440%20Ninth%20Avenue" data-url="https%3A%2F%2Flavamap.com%2Fproperty%2F440-9-Avenue-New-York-NY-10001%2F1007580082-0" data-bbl="1007580082" data-blockValue="00758" data-lotValue="0082" data-zipcode="10001" data-bldgArea="342%2C596" data-bldgDepth="198.83" data-bldgFront="98.75" data-landUse="Comm%20%26%20office%20buildings" data-lotArea="19%2C634" data-lotFront="98.75" data-lotDepth="198.83" data-retailArea="15%2C000" data-resArea="0" data-officeArea="327%2C596" data-garageArea="0" data-strgeArea="0" data-factryArea="0" data-otherArea="0" data-bldgClass="O6" data-primaryZoning="C6-4" data-commercialOverlay="" data-far="10" data-buildable="196%2C340" data-airRights="-146%2C273" data-propertyNeighborhood="Midtown%20West" data-latitude="40.7536727108785" data-longitude="-73.9954899432769" data-moreList="%5B%7B%22icon%22%3A%22https%3A%5C%2F%5C%2Fcdn.lavamap.com%5C%2Fwp-lavamap-link%5C%2Fpublic%5C%2Fimg%5C%2FviewOnMap.svg%22%2C%22url%22%3A%22https%3A%5C%2F%5C%2Flavamap.com%5C%2Fproperty%5C%2F440-9-Avenue-New-York-NY-10001%5C%2F1007580082-0%22%2C%22urlLabel%22%3A%22View%20on%20LavaMap%22%7D%2C%7B%22icon%22%3A%22https%3A%5C%2F%5C%2Fcdn.lavamap.com%5C%2Fwp-lavamap-link%5C%2Fpublic%5C%2Fimg%5C%2Fownership.svg%22%2C%22url%22%3A%22https%3A%5C%2F%5C%2Flavamap.com%5C%2Fproperty%5C%2F440-9-Avenue-New-York-NY-10001%5C%2F1007580082-1%22%2C%22urlLabel%22%3A%22View%20Ownership%20on%20LavaMap%22%7D%2C%7B%22icon%22%3A%22https%3A%5C%2F%5C%2Fcdn.lavamap.com%5C%2Fwp-lavamap-link%5C%2Fpublic%5C%2Fimg%5C%2FleaseComps.svg%22%2C%22url%22%3A%22https%3A%5C%2F%5C%2Ftherealdeal.com%5C%2Fnew-research%22%2C%22urlLabel%22%3A%22TRData%22%7D%5D" data-articleList="%5B%5D" rel="noopener">440 Ninth Avenue</a> and CBRE's Darcy Stacom

From left: CBRE's William Shanahan, 440 Ninth Avenue and CBRE's Darcy Stacom

Sherwood Equities is following the sale of a vacant block west of Penn Station with the introduction of a second West Side property to the market.

Sherwood’s 440 Ninth Avenue, an 18-story, approximately 400,000-square-foot office building, is to be marketed by CBRE brokers Darcy Stacom and William Shanahan. Paramount Group, a major Manhattan office landlord, co-owns the property with Sherwood, with the latter holding the controlling stake.

The duo purchased the building in 2008 for around $160 million, and recent sales in the area suggest Sherwood and Paramount will likely make a significant profit. Next door, 333 West 34th Street sold for roughly $220 million in June and is smaller than 440 Ninth Avenue.

Sherwood’s recent sale of 350-366 10th Avenue, a vacant parcel occupying a full block between Dyer Avenue and West 31st Street, sold to former Los Angeles Dodgers owner Frank McCourt for $167 million last week. [Crain’s] Julie Strickland

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New York

Sherwood follows McCourt sale with 440 Ninth Ave listing

From left: CBRE's William Shanahan, <a class="lavamap_link" style="text-decoration: none !important; color: inherit; box-shadow:none !important; pointer-events: none; cursor: default;" href="https://lavamap.com/property/440-9-Avenue-New-York-NY-10001/1007580082-0" target="_blank" data-address="440%209%20Avenue%2C%20New%20York" data-label="440%20Ninth%20Avenue" data-url="https%3A%2F%2Flavamap.com%2Fproperty%2F440-9-Avenue-New-York-NY-10001%2F1007580082-0" data-bbl="1007580082" data-blockValue="00758" data-lotValue="0082" data-zipcode="10001" data-bldgArea="342%2C596" data-bldgDepth="198.83" data-bldgFront="98.75" data-landUse="Comm%20%26%20office%20buildings" data-lotArea="19%2C634" data-lotFront="98.75" data-lotDepth="198.83" data-retailArea="15%2C000" data-resArea="0" data-officeArea="327%2C596" data-garageArea="0" data-strgeArea="0" data-factryArea="0" data-otherArea="0" data-bldgClass="O6" data-primaryZoning="C6-4" data-commercialOverlay="" data-far="10" data-buildable="196%2C340" data-airRights="-146%2C273" data-propertyNeighborhood="Midtown%20West" data-latitude="40.7536727108785" data-longitude="-73.9954899432769" data-moreList="%5B%7B%22icon%22%3A%22https%3A%5C%2F%5C%2Fcdn.lavamap.com%5C%2Fwp-lavamap-link%5C%2Fpublic%5C%2Fimg%5C%2FviewOnMap.svg%22%2C%22url%22%3A%22https%3A%5C%2F%5C%2Flavamap.com%5C%2Fproperty%5C%2F440-9-Avenue-New-York-NY-10001%5C%2F1007580082-0%22%2C%22urlLabel%22%3A%22View%20on%20LavaMap%22%7D%2C%7B%22icon%22%3A%22https%3A%5C%2F%5C%2Fcdn.lavamap.com%5C%2Fwp-lavamap-link%5C%2Fpublic%5C%2Fimg%5C%2Fownership.svg%22%2C%22url%22%3A%22https%3A%5C%2F%5C%2Flavamap.com%5C%2Fproperty%5C%2F440-9-Avenue-New-York-NY-10001%5C%2F1007580082-1%22%2C%22urlLabel%22%3A%22View%20Ownership%20on%20LavaMap%22%7D%2C%7B%22icon%22%3A%22https%3A%5C%2F%5C%2Fcdn.lavamap.com%5C%2Fwp-lavamap-link%5C%2Fpublic%5C%2Fimg%5C%2FleaseComps.svg%22%2C%22url%22%3A%22https%3A%5C%2F%5C%2Ftherealdeal.com%5C%2Fnew-research%22%2C%22urlLabel%22%3A%22TRData%22%7D%5D" data-articleList="%5B%5D" rel="noopener">440 Ninth Avenue</a> and CBRE's Darcy Stacom

From left: CBRE's William Shanahan, 440 Ninth Avenue and CBRE's Darcy Stacom

Sherwood Equities is following the sale of a vacant block west of Penn Station with the introduction of a second West Side property to the market.

Sherwood’s 440 Ninth Avenue, an 18-story, approximately 400,000-square-foot office building, is to be marketed by CBRE brokers Darcy Stacom and William Shanahan. Paramount Group, a major Manhattan office landlord, co-owns the property with Sherwood, with the latter holding the controlling stake.

The duo purchased the building in 2008 for around $160 million, and recent sales in the area suggest Sherwood and Paramount will likely make a significant profit. Next door, 333 West 34th Street sold for roughly $220 million in June and is smaller than 440 Ninth Avenue.

Sherwood’s recent sale of 350-366 10th Avenue, a vacant parcel occupying a full block between Dyer Avenue and West 31st Street, sold to former Los Angeles Dodgers owner Frank McCourt for $167 million last week. [Crain’s] Julie Strickland

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