Chetrit Organization pays $181.5M to Rudin Management for FiDi office tower

Chetrit Organization along with Michael and John Chetrit, through the entity CF 1 Whitehall LLC paid Rudin Management’s One Whitehall L.P. $181.5 million for 1 Whitehall Street in the Financial District. The deal closed on October 18, 2019, and was recorded on October 24, 2019. The transaction consists of 1 parcel, including the tax class office building tower type with 20 or more stories (O4). The property is 321,994 square feet.
The average sale price per square foot is $564.
The estimated cap rate is 2.8%
Rudin Management built the tower in 1962. The sale was brokered by Cushman & Wakefield’s Douglas Harmon, Adam Spies, Josh King, Adam Doneger, Marcella Fasullo and Kevin Donner.

Over the past five years, there have been 31 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 31 renovation/alteration projects (A2) applied for with a total estimated value of $7,424,697.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link
A recent story on the property. link.

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