Investcorp buys two Garment District offices for $155m

Investcorp buys two Garment District offices for $155m

Published at: 2017-11-08 15:31 | Author: CIJ USA
Investcorp, the Bahrain-based bank has formed a joint venture with Brickman to buy a two office buildings in the Garment District. The duo paid $155 million for the assets to the owner, New York REIT, or just under $575 per sqf. The two buildings, 256 West 38th Street and 229 West 36th Street, total 270,000 square feet. The deal was finalized with an $85 million mortgage provided by MetLife. Cushman & Wakefield’s Doug Harmon, Adam Spies, Adam Doneger and Kevin Donner represented the seller in the sale.

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