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Marcus Enters JV with Dalan on NoMad Offices
Marcus Partners has acquired two adjacent Midtown South properties at 10-12 E. 33rd St. from Dalan Management, which will partner with Marcus on the properties. The transaction, arranged by JLL, values the two office properties, each about 35,000 square feet, at $54.5 million.
The buyer was attracted to the properties’ NoMad district location, their 3,000-square-foot floorplates and the performance history under Dalan’s ownership. They’re currently 100% leased.
“The properties offer a stable, diversified tenancy and provide opportunities to create further value over the next few years,” said Marcus’ David Fiore. “We are excited to continue the improvement plan with the Dalan team to reposition 10-12 E. 33rd to the next level of quality and performance.”
JLL’s Mo Beler, Glenn Tolchin, Anthony Ledesma and Matthew Spiegel arranged the sale and JV partnership. “This asset presented the right investor with a rare opportunity to participate in the NoMad appreciation story,” said Beler.
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- ◦Sale/Acquisition
