NYC’s 441 Ninth Ave. Lands Two New Owners, Makeover
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441 Ninth Ave., New York
New York City—Cove Property Group and Baupost Group have teamed up to buy 441 Ninth Ave., an eight-story office building on Manhattan’s Far West Side, near the Hudson Yards and 1 Manhattan West mega-developments, for $330 million. The new owners plan to renovate the asset into Class A office space.
The joint venture purchased the 423,000-square-foot building from EmblemHealth, which had owned the property since 1994. It was originally built as a warehouse in 1962 and converted to offices in 1983.
CBRE Capital Markets arranged the sale. Darcy Stacom, Bill Shanahan, Eric Negrin, Ryan Spector and Paul Haskin of CBRE’s Midtown Manhattan office represented the seller, which will be vacating the building in 2017 after a short-term leaseback…
