32BJ pays $22.1M to RXR for ground floor condo in Flatiron District

32BJ SEIU through the entity Building Service 32BJ Health Fund paid $22.1 million to RXR Realty through the entity RXR 620 Master Lessee LLC for the commercial condominium “dental center unit” at 620 Avenue of the Americas in the Flatiron District, Manhattan. The expected use is owner-occupied.
The deal closed on March 31, 2026 and was recorded on April 8, 2026. The property has 18,975 square feet of built space according to a PincusCo analysis of city data, composed of 14,441 square feet on the ground floor and 4,534 square feet on the mezzanine. The sale price per built square foot is $1164 per the PincusCo analysis. (The price per square foot analysis is the transaction price divided by square feet as reported in public records and assumes no air rights have been sold.)
The signatory for RXR Realty was Jason Barnett . The signatory for 32BJ SEIU was Peter Goldberger . The contract date was December 18, 2025.

32BJ SEIU already occupies most of the building, which is its headquarters, through the 164,009-square-foot, multi-floor commercial condo unit B-1, lot number 1402.

Prior sales, articles and revenue

Prior to this transaction, PincusCo has no record that the buyer 32BJ SEIU had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller RXR Realty purchased seven properties in four transactions for a total of $1.8 billion and sold 10 properties in seven transactions for a total of $1.3 billion over the same time period.

The block

On this tax block, PincusCo has identified the owners of five of the 11 commercial properties representing 222,008 square feet of the 476,510 square feet. The largest owner is Olnick Organization, followed by Tarsat Prop Llc and then Alfa Development.
There are no active new building construction projects on this tax block.

The seller

The PincusCo database currently indicates that RXR Realty owned at least 26 commercial properties with 1,000 residential units in New York City with 11,967,467 square feet and a city-determined market value of $4.6 billion. (Market value is typically about 50% of actual value.) Within the portfolio, the bulk, or 90 percent of the 11,967,467 square feet of built space are office properties, with D3 properties next occupying 3 percent of the space. The bulk, or 87 percent of the built space, is in Manhattan, with Brooklyn next at 12 percent of the space.

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