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New York & Tri-State  + New York  + Office  |  August 26, 2019
David Cohen
By: David Cohen

Manhattan’s Coca-Cola Building Trades for $907M

Nightingale Properties and Wafra Capital Partners have acquired the Coca-Cola Building in Manhattan’s Plaza District. The sales price was reported as $907 million.

Built in 1927, the 17-story, 354,000-square-foot office building served as the headquarters for NBC until 1933, when the network moved to Rockefeller Center. Coca-Cola acquired the property, which is located at 711 Fifth Ave., in 1983. In December, Coca-Cola tapped a team from Cushman & Wakefield to sell the Plaza District property.

Doug Harmon, Adam Spies, Kevin Donner and Avery Silverstein of Cushman & Wakefield represented Coca-Cola in the transaction. Additionally, J.P. Morgan Chase provided a $700 million acquisition loan to Nightingale and Wafra for the property. Terms of the financing were not disclosed.

For comments, questions or concerns, please contact David Cohen

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About David Cohen

David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.
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