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Pre-War Site Trades for $27M

NEW YORK CITY-An 87,447-sf site built in 1913 changes hands for $26.5 million. A local investor who needed to fulfill 1031 requirements buys the office at 6 East 39th St. in Midtown South.

By Barbara Jarvie | Updated on June 01, 2006

NEW YORK CITY-A local investment group has acquired a 12-story pre-war office building for approximately $26.5 million. The site, also known as the Craftsman Building, was sold by the Winter Organization.

The 87,447-sf building occupies a full block-through site at 6 East 39th St. between East 38th and 39th just east of Fifth Avenue. The buyer, 6 East 39th St Holdings LLC, fulfilled a 1031 requirement with the purchase.

The site is currently 99% occupied by tenant mix that includes video, film and television production companies, nonprofit foundations, attorneys and business consultants. Office tenants include City Light Productions and the Jewish Life Network.

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