"We are delighted to own this fully renovated building, with its location near Grand Central Terminal," says Jeffrey A. Barclay, managing director and head of acquisitions for Clarion. He also notes that the firm plans to continue acquiring properties in the New York City market.
Clarion's other properties in the New York metro area include 111 Eighth Ave. in Manhattan, Greenwich Office Park in Greenwich, CT and Ten Exchange Place in Jersey City, NJ. 685 Third will be managed and leased by Clarion Realty Services.
Clarion, based here, manages $8.5 billion in assets for institutional and private clients.
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