219 E. 42nd St. 219 E. 42nd St.,/Google maps

NEW YORK CITY—A joint venture Alexandria Real Estate Equities along with David Werner Real Estate, Deutsche Bank and the State of Wisconsin Investment Board purchased Pfizer Corporation’s Manhattan headquarters at 219 E. 42nd St. and 235 E. 42nd St. for a total of $363.5 million, according to Real Capital Analytics. The deal is subject to a partial sale leaseback to Pfizer for at least five years. This gives Pfizer time to remain in its location, until its new space at the Spiral is completed. Tishman Speyer’s 65-story skyscraper at 66 Hudson Blvd. is scheduled to open in 2022.

Alexandria released a statement that it is purchasing 219 E. 42nd St. from Pfizer for $203 million. The pharmaceutical company had made plans to sell both its E. 42nd streets in April, when it signed a lease to move its headquarters to the Spiral in Hudson Yards.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Betsy Kim

Betsy Kim was the bureau chief, East Coast, and New York City reporter for Real Estate Forum and GlobeSt.com. As a lawyer and journalist, Betsy has worked as the director of editorial and content for LexisNexis Lawyers.com, a TV/multi-media journalist for NBC and CBS affiliated TV stations in the Midwest, and an associate producer at Court TV.

More from this author



Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2023 ALM Global, LLC. All Rights Reserved.