Rodin Studios Sale Closes

The Rodin Studios is a closed deal. As The Observer reported first in December, the corner landmark at 200 West 57th is being sold to The Feil Organization for $125,735,000 million.

The sale confirms the shocking: The 120,000-square-foot building, regarded by several leasing brokers as a neglected disaster, sold for more than $1,000 per square foot. The reason? Retail location. But also: This market is entirely nuts.

- John Koblin