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UN Area Condos Sell for $48M

NEW YORK CITY-Office and retail condo space in Diplomat Centre aggregating 127,657 sf trades for approximately $48 million. The site near the United Nations is called home by a number of Permanent Missions.

By Barbara Jarvie | Updated on May 17, 2006

NEW YORK CITY-Philips International has picked up the remaining 127,657 sf of office and retail condominium space at 820 Second Ave. for $48 million. The space is within the 174,133-sf 19-story building near the United Nations.

The building is known as Diplomat Centre. Office tenants include the Permanent Missions of Liberia, Nicaragua, Trinidad, Micronesia, Madagascar and the Korean Democratic Republic. Other tenants include the United Nations Population Fund and the United National Federal Credit Union. The sale consists of 70% of the office space and 100% of the building’s retail space. The new owner plans to sell off the condo units as the current tenants’ leases expire.

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