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Observer Building Sells For Reported $95M

NEW YORK CITY-The paper's Midtown West offices are owned by Kushner Cos., whose CEO Jared Kushner also owns the Observer.

By Rayna Katz | Updated on January 02, 2013

NEW YORK CITY-Kicking off 2013 with perhaps one more ding to the publishing industry, the New York Observer has reportedly sold its Midtown West office building. As reported Monday on Bloomberg, and again Wednesday in the New York Post, Observer owner Jared Kushner procured a purchase price of $95 million for his property, 321 W. 44th St.

The buyers of the 228,268-square-foot structure were East End Capital and Green Oak Real Estate. They were represented by Darcy Stacom, vice chairman at CBRE, according to the Post. A CBRE spokesman didn’t have information on the deal. East End was formed by Jonathon Yormak and David Peretz, formerly of Broadway Partners, along with real estate investor Richard Ruben. 

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