Sioni Group Acquires Office Building In Garment District/Manhattan For $105M

240 W 40th St, New York, NY 10018, USA, 240 W 40th St, New York, NY 10018, USA & 240 W 40th St, New York, NY 10018, USA

Building Size

1,758,632 SF

Asset Type

—

Closing

Jul 10, 2018

AI

An office property located at 240 West 40th St in the Garment District/Manhattan market in New York has been sold for a total price of $105,000,000. The property spans 158,632 square feet, resulting in a price per square foot of $661.

Summary of transaction details:

Property Type: Office
Transaction Amount: $105,000,000
Address: 240 West 40th St, New York
Market: Garment District/Manhattan

The seller of the property is JP Morgan, represented by Colliers International as their broker representative. Olmstead Properties is also listed as a seller. The buyer, Sioni Group, is represented by Ray Yadidi. Lenders involved in the deal include Mack, providing a $20.5 million mezzanine loan.

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