707 11th Avenue
Update
12/23/21
Hells Kitchen Office Building Trades for $95M
A 6-story commercial building in Manhattan's Hells Kitchen neighborhood has just traded hands for $95 million. Located at 707 11th Avenue, the property was offloaded by SL Green Realty Corp to joint purchasers, Beacon Capital Partners and The Georgetown Company, with JLL brokering the deal. The building was constructed in 1901 and contains loft-style commercial space, which can be configured for office or studio use.
SL Green is parting with the property after only around 2 years of ownership, having bought it for $90M in January of 2020. Prior to that, the 160,000 square foot structure was owned by fashion house, Kenneth Cole Productions, and used as their corporate headquarters for over 15 years. Redevelopment plans had been floated around by SL Green, but with new owners taking the reigns, we'll have to wait and see if such plans are still in the cards.
