 |
| Eric Anton |
NEW YORK, NY – Holliday Fenoglio Fowler, L.P. (HFF) announced
it has closed the sale of 370 Lexington Avenue, a 295,016-square-foot office
building with ground floor retail space in the Grand Central submarket of
Midtown Manhattan.
HFF marketed the property
widely to both domestic and international investors on behalf of the seller, a
venture between institutional investors advised by J.P. Morgan Asset Management
and Sherwood Equities.
370 Lexington Avenue is
located on the corner of East 41st and Lexington just one block from Grand Central
Station. This Midtown Manhattan location
is close to the Park Avenue Corridor, Bryant Park, Midtown South, the United
Nations and the First Avenue Medical Corridor.
Originally built in 1928, 370 Lexington
features 27 stories of office and ground floor retail space that is 99 percent
leased to a diverse roster of tenants including professional services, TAMI
(technology, advertising, media and information technology firms), United
Nations, and FIRE users.
The HFF investment sales
team representing the seller was led by senior managing directors Andrew Scandalios and Eric Anton and director David Fowler.
“With an influx of foreign
buyers widening the buyer pool and increasing competition for Class A assets
such as 370 Lexington, it was no surprise that the property ultimately sold at
a record breaking price per square foot,” said Scandalios. “This is the foreign investor’s fifth
purchase in Manhattan in a little over two years.”
For a complete copy of the company’s news
release, please contact:
Kristen M. Murphy
Associate Director
HFF | One Post Office
Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 |
Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com
jpmorgan.com/institutional/global_real_assets
No comments:
Post a Comment