Historic Sale of Midtown Tower Marks New Ownership After 82 Years
Sunday, 11 August 2024, 07:40
Notable Midtown Real Estate Change
The historic office building located at 8 W. 38th St., which has a significant lineage associated with John Jacob Astor, has been sold for the first time in 82 years. The sale represents a notable shift in ownership in one of Manhattan's prime districts.
Details of the Transaction
- The building was purchased by Jay Properties.
- It was sold by the Felder family.
- The total sale price was $35 million.
- This amounts to approximately $250 per square foot.
Conclusion
This sale not only marks a significant event in the history of the building but also indicates ongoing opportunities and interest in Midtown office spaces.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.