Two prominent developers are in contract to sell a pair of Midtown South towers, one for almost $1,100 per square foot and one for roughly $770 per square foot.
Spear Street Capital’s 315 Park Avenue South, the more expensive one of the two, is in contract for $375 million, according to the New York Post. Spear Street bought the 330,000-square-foot tower in 2013 for $234.3 million.
Meanwhile, Billy Macklowe is selling 386 Park Avenue South for roughly $200 million, according to the newspaper. Macklowe purchased the property for $111.5 million in 2012.
Both owners recently renovated their buildings.
Eastdil Secured’s Douglas Harmon and Adam Spies marketed the properties.
An unidentified non-New York based publicly traded company is buying 315 Park Avenue South, the newspaper reported. Billionaire William Fung’s HSR Corporation is buying 386 Park Avenue South.
[NYP, 1st] — Claire Moses