Tribeca Office Penthouse Trades for $48M
ByNow an afternoon/evening event, ending with a cocktail reception, register today for RealShare NEW YORK on October 14 from 1:30 pm – 7:00 pm.
The multi-level penthouse space that changed hands at 99 Hudson St. totals nearly 35,000 square feet.
NEW YORK CITY—An office penthouse at 99 Hudson St. has changed hands in a $48-milion deal. The seller realized a gain of $23 million on its three-year-old investment at the Tribeca property when including purchase, renovation and re-leasing costs.
Real estate investment firm JMC Holdings sold the fully leased 34,742-square-foot penthouse office space toLaSalle Investment Management. JMC, which is headed by Matthew Cassin and David Taylor, purchased the penthouse in 2012 for $18.5 million and since then invested another $6.5 million to renovate and re-lease the space. The unit spans three floors and also features a private access roof deck. JMC Holdings purchased the penthouse from the NAACP…
