Sherwood follows McCourt sale with 440 Ninth Ave listing

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.

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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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Sherwood follows McCourt sale with 440 Ninth Ave listing

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.

Sign Up for the undefined Newsletter

By signing up, you agree to TheRealDeal Terms of Use and acknowledge the data practices in our Privacy Policy.

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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