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Acquisitions

PGIM and SJP Properties acquire 470 Park Avenue South

Office building spans over 300K SF

470 Park Avenue South (Credit: Google Maps)

PGIM and SJP Properties have acquired 470 Park Avenue South from Norges and Nuveen(formerly TH Real Estate) for $245 million. The office building spans 301,178 SF, and is located between East 31st and East 32nd Streets. 

Worth Noting: The building is currently 87 percent leased, according to the CO. Tenants include Priceline, Distillery Inc, and Opus 3 Artists.

Flashback: TH Real Estate paid $157 million for the property in 2007. Norges subsequently took a 49 percent stake in the building when it partnered with TH Real Estate in a large deal in 2013. 

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