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Clarion Trades 1915-Vintage Midtown Offices for $133M
Clarion Partners has sold 114 W. 41st St., a 22-story office tower in Midtown Manhattan, for $133 million, according to published reports. The buyers were a team of Axonic Capital, which holds the majority stake, AM Management and EYN Holding. A spokesperson for Eastdil Secured confirmed that managing directors Gary Phillips and Will Silverman, together with director Jeff Organisciak, arranged the sale.
The 2025 sale price represents a 52.8% discount from 2018, when Clarion acquired 114 W. 41st from Blackstone’s EQ Office for $282 million, or just over $800 per square foot. Originally built in 1915, the 340,208-square-foot property has undergone numerous upgrades, most recently in 2023.
“As tenants in the market gravitate towards higher-quality, institutional assets, we are confident the redesigned common areas will provide a more productive, inspiring, and enjoyable location for their organization,” said Margaret Egan, Clarion SVP of asset management, said in 2023.
- ◦Sale/Acquisition
