Onyx and GMF Plan Gut Renovation for Offices Across from Moynihan Station

Onyx Equities and GMF Capital reportedly paid $60 million for a ground leasehold interest in 320 W. 31st St., a four-story, 150,000-square-foot office building (pictured, lower left) directly across the street from the new Moynihan Station in Midtown Manhattan.

Until recently, the building was home of TCI College of Technology. The joint venture plans to gut and renovate the property into a modernized office building. The seller was Overtime Properties, LLC.

“The immense public and private investment in the surrounding area, and the site’s transit connectivity, is certain to generate strong interest from tenants,” said Jeff Selinger, Chief Investment Officer of GMF Capital.

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