Plaza District Office Building In Contract for $105M

The joint venture of ZG Capital and Railto Capital Management signed a contract to purchase the 134,000-square-foot office building at 45 East 53rd Street. The pending sale by Florida-based MEK Management Services attracted a price of $105 million, or about $784 per square foot; and is expected to close within 30 days. Currently the New York headquarters for Santander Bank, the Spanish bank exercised an option included in the 2012 sale-leaseback deal to leave early, opting to relocate and consolidate in a 160,000-square-foot space subleasing from WeWork at 437 Madison Avenue.

Source:    https://nypost.com/2022/04/17/santanders-east-midtown-tower-has-a-new-owner/

Source:    https://therealdeal.com/2022/04/18/zg-rialto-buying-former-santander-building-for-105m/