Dallas-based Gaedeke Group pays $200M to Blackstone for 44 Wall in Financial District

Dallas-based Gaedeke Group through the entity 44 Wall Street Holdings, LP paid Blackstone Group’s 44 Wall Owner, LLC $200 million for 44 Wall Street in the Financial District. The deal closed on March 10, 2020, and was recorded on March 13, 2020. The transaction consists of 1 parcel, including the tax class office building tower type with 20 or more stories (O4). The property is 289,049 square feet. The parcel(s) have total development potential of 289,049 square feet.
The average sale price per square foot is $692.

George Comfort & Sons will manage the building and advised on the sale, and Finback Real Estate’s Michael O’Callaghan and Gentry Ashmore Hoit represented Gaedeke; and Eastdil Secured’s Will Silverman and Hodges Ward Elliott’s Paul Gillen represented Blackstone, according to The Real Deal. The last time the property sold was June 14, 2016, when Blackstone acquired it for $111,267,000.

Over the past five years, there have been 53 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 53 renovation/alteration projects (A2) applied for with a total estimated value of $13,951,182.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link