Vanbarton Group Acquires 444000 SF Property At 132 W 31st St New York For $265 Million

31 Penn Plaza, located at 132 W 31st St, New York, NY, encompasses 444,000 square feet. The property was acquired for a transaction amount of $265,000,000.00 in the New York market.

Summary of transaction details:

• Property Type: Office Building
• Transaction Amount: $265,000,000.00
• Square Footage: 444,000
• Address: 132 W 31st St, New York, NY, 10001
• Buyer: Vanbarton Group
• Seller: Savanna
• Seller's Representatives: Adam Spies (Newmark), Douglas (Doug) Harmon (Newmark)

Vanbarton Group's acquisition of the property highlights a significant transaction in the New York market. The seller, Savanna, originally purchased the building in 2011 for a price that was approximately half of the sale amount. This deal was facilitated by representatives from Newmark, Adam Spies and Douglas Harmon.