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New York & Tri-State   /   August 16, 2019

Paul Bubny
By: Paul Bubny

Bill Blass Group Nabs Boutique Offices in Midtown East

Cushman & Wakefield arranged the sale of 3 E. 44th St., a 14,175-square-foot office property in Midtown East. The final closing price was $15.3 million, or $1,079-per-square-foot.

The firm’s Will Conrad and Rob Shapiro represented the sellers, Bernstein Real Estate and NYC Associates LLC. The building was purchased by the Bill Blass Group.

“Our sale at 3 E. 44th is another example of a user group paying a significant premium to own and operate their own real estate,” said Conrad. “This foreign purchaser’s investment is proof that global capital is still committed to Midtown Manhattan as the epicenter of global corporations, fine dining and culture.

“The construction of One Vanderbilt and the Midtown East Rezoning will continue to attract investment to Midtown from local and foreign buyers alike,” he added.

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Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism.
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