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Two Midtown South towers trade at steep discounts
The two deeds, recorded October 6 and 8, total $250 million, against $562 million at the towers' previous recorded sales.
Midtown South · October 12 · Based on 3 documents
2 addresses
Key facts
Combined price: $250 million
1250 Broadway at 45%
1115 Broadway at 42%
Deeds recorded October 6 and 8
A deed recorded on October 6 shows that the tower at 1250 Broadway sold for $186 million. A deed recorded two days later shows that the tower at 1115 Broadway sold for $64 million. Together the two Midtown South towers sold for $250 million, against $562 million at their previous recorded sales.
$250M
Combined price of the two Midtown South towers
The price of 1250 Broadway is 45% of the $410 million recorded at its 2014 sale. The price of 1115 Broadway is 42% of the $152 million recorded at its 2016 sale. The two sales come in $312 million below the previous prices combined.
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Still in this story
The floor area and age of 1250 Broadway
The tax class of 1115 Broadway
The market value on the 2026 tax roll
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Sources
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