A Manhattan office building has been sold at a significant discount, with the 23-floor property changing hands for roughly 2.5% of its original value. The sale was facilitated through an auction process, with the buyer reportedly a real estate investment firm. While the exact reasons behind the substantial price drop are unclear, experts suggest it may be attributed to market fluctuations or the building's condition.

Source: https://www.nytimes.com/2024/08/01/nyregion/manhattan-office-building-auction.html