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CIM Forays Into Tribeca To Buy Condos

NEW YORK CITY-The company takes over the former NY Telephone Co. headquarters in an area it describes as “positioned for economic expansion.”

By Rayna Katz | Updated on January 02, 2014

NEW YORK CITY-CIM Group and Magnum Real Estate Group have acquired a condominium interest—primarily consisting of floors 11 through 31—in 140 West St., a 32-story office tower in Tribeca. CIM and Magnum will convert the upper floors of the building to luxury condominiums. The purchase price was undisclosed.

Originally the headquarters for the New York Telephone Company, 140 West St. takes up a full city block with street frontage on West street, Barclay street, Vesey street and Washington Street. Completed in 1927, the Art Deco building is considered one of the most significant structures in skyscraper design.

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