Commercial building sales slumped in 2020, but deals are on the horizon
By Lois Weiss | January 26, 2021
Commercial sales slumped in 2020 as quarantines crushed the global markets. Nevertheless, some savvy firms were able to carve out deals.
The redevelopment of 410 Tenth Ave. was the largest building sale completed in December. SL Green Realty sold the property to 601W Companies for $952.8 million, equal to $1,742 per square foot through Darcy Stacom, chairman of CBRE. Its reconstruction is now under way to accommodate tenants including Amazon and First Republic Bank.
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