1140 Broadway is a 25-story, nearly 756,000-square-foot office building on West 40th Street. 1140 Broadway is a 25-story, nearly 756,000-square-foot office building on West 40th Street.

NEW YORK CITY—New York REIT, Inc., which is engaged in a property liquidation program, has closed on the sale of its 1440 Broadway office building for $520 million.

The New York City-based firm announced in an 8-K SEC filing in November that Los Angeles-based CIM Group Acquisitions, LLC, an unaffiliated third party, had entered into a contract to purchase the 755,679-square-foot, 25-story office building. The property, located on the northeast corner of Broadway and West 40th St., has undergone more than $36 million in building improvements since 2000. NYRT received net proceeds of approximately $192.9 million on the purchase.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2022 ALM Global, LLC. All Rights Reserved.