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ESRT Offloads 250 W. 57th St. for $275M
Empire State Realty Trust, Inc. (ESRT) said Tuesday it had completed the disposition of 250 W. 57th St., a 540,000-square-foot office tower for $275 million. The sale price included the buyer’s assumption of $180 million of mortgage debt. Published reports identified the buyer as Namdar Realty.
The transaction represents a recycling of capital into the REIT’s December 2025 acquisition of 130 Mercer St., without recognition of a taxable gain. The company said the sale is consistent with its strategy to recycle capital into high-quality assets with long-term cash flow growth prospects.
Adam Spies, Josh King, Avery Silverstein and Ben Lushing of Newmark represented ESRT in the 250 W. 57th sale. ESRT also completed the purchase of the land underlying its 111 W. 33rd St. and 1400 Broadway properties, which carried remaining ground lease terms of approximately 51 and 38 years, respectively, for an aggregate purchase price of $110 million.
- ◦Sale/Acquisition
