Tuesday, February 26, 2013

DivcoWest, Brickman Pay $115M for Manhattan Office Portfolio




National Commercial Real Estate News From CoStar Group





DivcoWest, Brickman Pay $115M for Manhattan Office Portfolio



A joint venture of Brickman Associates and DivcoWest has acquired a three-building office portfolio located on two lots at 24 - 28 and 40 - 46 W. 25th St. in New York City from the Albert Einstein College of Medicine at Yeshiva University for $115 million, or $460 per square foot.

The properties were built in 1911 and 1913, between Broadway and Sixth, in the heart of Chelsea's Midtown South submarket. The three 12-story structures total approximately...






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