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Another Giant Sale for NY REIT: $156M for Two Towers

Just a few days after agreeing to sell its property at 1440 Broadway, NY REIT announced that it has sold another pair of office properties for $155.95 million.

The 229 W. 36th St. property is a 14-story, 117,902 square-foot office building. The 256 W. 38th St. property is a 12-story, 148,894 square-foot office building. Both have recently undergone extensive renovations.

The sale is part of NY REIT’s previously announced plan to wind down and liquidate its assets, distributing the proceeds to its shareholders.

For comments, questions or concerns, please contact our New York commercial real estate editor Bendix Anderson

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