crefeed.com | 14 Penn Plaza in Manhattan sells for $350 million

8/29/2007

14 Penn Plaza in Manhattan sells for $350 million

14 Penn Plaza

New York-based Circle Properties Associates acquired the office tower at 225 W. 34th St., also known as 14 Penn Plaza, in Midtown Manhattan for $530 million from real estate investment firm The Pennsylvania Building Co.

Cushman & Wakefield's John Caplan, Richard Baxter, Yoron Chen and Scott Latham represented the sellers, who received about $625 per-square-foot on the deal.

14 Penn Plaza, built in 1925 by famed New York architects Schwartz and Gross, rises 22 stories and houses about 558,000 square feet of office and retail space. It is part of the Pennsylvania Plaza complex between 31st and 34th Streets and Seventh and Eighth Avenues.

The complex includes Madison Square Garden and the busiest train station the country, Penn Station.

The building was 92 percent leased at the time of the sale. Major tenants include Mueser Rutledge Consulting Engineers and FX Concepts, an investment firm.

Address: 14 Penn Plaza at 225 West 34th St., New York, N.Y.

Size: 559,000 square feet/22 stories

Built: 1925

Architect: Schwartz & Gross

Filed Under: Office

E-mail this article to a friend | Printer friendly format| DIGG this| Post to del.icio.us

Comments on this article

No comments have been posted in the last 15 days!

Send us your comments on this article

Related Headlines

Colliers International welcomes three brokers in California - 5/29/2009
Texas hotel sells for $4.275M - 5/29/2009
Massey Knakal lists NoHo retail building for $5.95M - 5/29/2009
California industrial building sells for nearly $3 million - 5/29/2009
NAI facilitates sale of Alaska mixed-use building - 5/28/2009
Long Beach retail center commands $6.05M - 5/28/2009
Florida land fetches $2.725M - 5/28/2009
Marcus & Millichap list Virginia retail store for more than $10.2M - 5/28/2009
Colliers Arnold stays busy in Tampa - 5/27/2009
Colliers sells two buildings in California - 5/27/2009