Williams Equities acquired the 300,000-square-foot office building at 470 Park Avenue South in Midtown South for $147.5 million, a 40% discount from its 2018 purchase price of $245 million by SJP Properties and PGIM Real Estate. The sellers had invested $15 million in renovations, including a roof terrace and landscaped courtyard, but faced value adjustments due to post-pandemic interest rates. The deal equates to $492 per square foot. Williams plans to market available office space for $70-$80 per square foot and will replace the existing $56 million mortgage. Recent tenants include DAZN and Anchorage Digital.
Williams Equities
