NEW YORK CITY-It's official: American Realty Capital New York Recovery REIT has closed on its purchase of a 48.9% equity interest in Worldwide Plaza, for $220 million. The seller, WWP Sponsor—which is controlled by a joint venture consisting of George Comfort & Sons, RCG Longview, and DRA Advisors—retained the remaining 51.1% equity interest.

Located on eighth avenue, between 49th and 50th streets, Worldwide Plaza is a 49-story office building with about 1.8 million rentable square feet of office space, 30,000 square feet of retail space, a five-stage off-Broadway theater, a 38,000-square-foot foot fitness center and a garage providing 475 parking spaces. The asset is 91% leased to a number of large credit tenants, including Nomura Holding America and Cravath, Swaine & Moore.

Notes Michael Happel, CIO of ARC's NYRR, "Worldwide Plaza is located in the Midtown Manhattan office sub-market and features large credit tenants as well as potential additional leasing opportunities. This acquisition increased our portfolio value to over $2.1 billion, including other recently announced acquisitions."