321 West 44th

Related Companies is selling the 10-story, 220,000-square-foot office building at 321 West 44th Street in Hell’s Kitchen at a significant 67% discount from its 2018 purchase price. Namdar Realty Group and Empire Capital Holdings are buying the property for under $50 million, compared to its previous sale price of $153 million. Related and its lenders accepted this deal, which CBRE arranged, as office sector owners increasingly opt to cut losses in a challenging market.