NEW YORK CITY-While Related Cos. has made significant investments to increase its holdings on the West Side of Manhattan, the developer has put its 511-541 W. 25th St. building on the market for sale.
The firm, which is building its massive Hudson Yards project just a few blocks away, has hired CBRE brokers Darcy Stacom and Bill Shanahan to market the 200,000-square-foot property. The firm is reportedly seeking $160 million or more for the property that is actually three properties that have been conjoined, according to Crain's New York Business.
Related, through its $825-million Real Estate Recovery Fund, acquired the building for $93 million two years ago.
In late 2013, a Victoria Beckham fashion company established its New York headquarters at the property. Also in the summer of last year, Target, leased approximately 30,000 square feet at the building. See story in Crain's New York Business.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
