A 16-story building at 995 Market St. was sold for $6.5 million, marking an 89% drop from its 2016 price of $62 million. In 2018, the building was purchased for $153 million, now selling for less than $50 million, a 67% price decrease. Another building, 65 Broadway, the American Express Building in Manhattan, has seen a $100 million loss in 5 years, dropping from a 2019 valuation of $215 million to an appraisal of $104 million. The commercial real estate market is facing challenges with office building valuations in the US down by 20 to 70% on average. Investment in commercial real estate is at its lowest since 2013, with office buildings selling at discounts and construction slowing, except for apartments.
Owner kicks in $250M to secure new loan for Park Avenue office tower https://t.co/8H5X7kT8kH
Private investors seize opportunities in San Francisco’s shifting commercial real estate landscape - San Francisco Business Times https://t.co/R1WzpUOZ6G via @SFBusinessTimes
Owner kicks in $250M to secure new loan for Park Avenue office tower https://t.co/Bm9NgwwWI0
Two of the largest NYC contrarian office investors - Namdar & Empire Capital - are set to give the keys back on 345 Seventh Ave after only three years of ownership An entry basis of ~$500 psf & $78 million in floating-rate debt was an uphill battle https://t.co/Opjxa9TIJ4
Office Building Next to NYC Amazon HQ Trades for $18M https://t.co/oRd7q0EOTh
Office building valuations in the US are down 20 to 50% on average, with some even down 70%, per the NYT.
Investment in commercial real estate is at its lowest levels since 2013, office buildings are selling at steep discounts, and commercial construction is slowing dramatically, aside from apartments. https://t.co/DZlsFmgYSF
$128M upgrade helps former CBS headquarters keep white-shoe firm https://t.co/W79dPOhMDV https://t.co/7pUVYh0ZPj
65 Broadway, the American Express Building, in Manhattan has lost $100 million in 5 years. In 2019, this building was valued at $215 million. it is now appraised at $104 million, per Triple Net Investor. https://t.co/HtfZsJcf9y
In 2018, this building was purchased for $153 million. it has now sold for less than $50 million, per Bloomberg. A 67% drop in price. https://t.co/Tdkxd7NFZF
An empty 16-story building at 995 Market St. just sold for $6.5 million, a nearly 90% plunge from its 2016 price of $62 million https://t.co/71HQvmajBu