NYC's Top Investment Sales Firms of 2020
The biggest investment sales deal of the year didn’t even involve brokerages. In March, Amazon bought the landmarked Lord & Taylor building at 424 Fifth Avenue for $978 million. The e-commerce giant did a direct deal with the seller, a joint venture of Rhone Capital, Hudson’s Bay Company and WeWork, which originally planned to renovate the 660,000-square-foot building to use as its corporate headquarters. The deal, which worked out to about $1,480 per square foot, closed on March 12, just one week before Gov. Andrew Cuomo ordered all nonessential businesses, including real estate firms, ...