Three Billion-Dollar Deals in Commercial Real Estate

II Madison Avenue
II Madison Avenue

 

Alex Getelman received a Certificate in Masters Real Estate Program from the New York University. With his academic experience, Alex Getelman established a project management and consulting firm that works in the areas of construction and real estate. Some of his projects involve development of commercial real estate.

Commercial real estate encompasses the development of non-residential properties, such as shopping centers and office buildings. Here are some of the United States’ biggest deals in commercial real estate:

– Stuyvesant Town – In 2007, investors Tishman Speyer and JV Blackrock Realty led the $5.3 billion real estate transaction. The group of investors intended to turn the middle-class housing complex into an upscale development.

– II Madison Avenue – Manhattan’s SL Green Realty Corp. bought the office property from Sapir Organization and CIM Group for $2.29 billion. This is the largest single-building deal in New York.

– 3 Bryant Park – Blackstone Group sold the 630-foot skyscraper, also known as the Salesforce Tower, to Ivanhoe Cambridge and Calllahan Capital Properties for $2.2 billion.

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