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.

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