Jamestown To Sell 1250 Broadway For $565M
Eyal Ofer’s Global Holdings is under contract to pick up 1250 Broadway, a 39-story, 721k SF office tower owned by Jamestown Properties and Murray Hill Properties.
The selling price comes to $565M, according to the New York Post. Eastdil Secured’s Douglas Harmon and Adam Spies are repping the seller.
Visiting Nurses has the biggest footprint in the building, with 320k SF. New ownership could be faced with filling that space relatively soon; that lease expires in 2018.
The current ownership bought the building, which sits at the corner of 32nd Street and Broadway in the heart of NYC’s Koreatown, for $310M in 2008. They’ve since undertaken a renovation aimed at luring tech tenants. That reno clearly paid off, considering the $255M price appreciation eight years later. [NYP]
