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.
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.
Email the Author
Reach over 250,000 Commercial Real Estate Professionals with Connect
Connect CRE reaches the top commercial real estate players nationwide and across all property types, offering you a variety of ways to showcase your team, your expertise and your brand to CRE decision makers.
The home for CRE news and everything you need to stay informed on deals, trends, and transactions, providing a platform to get your brand in front of your target audience.
Daily CRE Emails
Reaching over 150,000 inboxes across the nation every day, Connect’s Daily News emails provide advertising opportunities specific to your market.
Bi-Weekly Property Sector Emails
Focus your advertising on emails dedicated to your property sector and stay visible to current and potential clients.
Position your team as experts in your field with content created by Connect’s editorial team and published on Connect’s news emails. Showcase your intelligence and broaden your reach.