Monday, August 12, 2013

ARC NYRR Pays $220.3M for Midtown Office

National Commercial Real Estate News From CoStar Group

ARC NYRR Pays $220.3M for Midtown Office

American Realty Capital New York Recovery REIT, Inc. has acquired the office building at 333 W. 34th St. in New York City from SL Green Realty Corp. for $220.3 million, or about $632 per square foot, exclusive of closing costs.

The ten-story, 348,363-square-foot office tower was built in 1953 on three-quarters of an acre in Midtown Manhattan's Penn Plaza / Garment District submarket, between Eighth and Ninth Avenues. The asset is fully leased...

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