NEW YORK CITY—Monday Properties—in partnership with Invesco Real Estate—has completed the $1.2 billion sale of 230 Park Ave. to RXR Realty. The 34-story, 1.4-million-square-foot trophy property, known as the Helmsley Building, is one of the largest office building sale transactions of the year, to date, for New York City.

“When we purchased 230 Park Avenue, our vision was to elevate one of the most historic and visible New York City office buildings into an energy efficient, modern trophy property,” says Anthony Westreich, chairman and CEO, Monday Properties. “We are delighted not only with the return on the investment, but that we had the opportunity to contribute to the building's iconic status and leave a lasting legacy that will benefit the community.”

Greenberg Traurig Real Estate shareholders Richard Giusto, Danielle Gonzalez, and Michael Lynott represented Invesco in the sale. Watch GlobeSt.com later this week for an UPDATE to this story with more input from Westreich and Greenbreg Traurig.

Built in 1929, 230 Park Ave. was designed and constructed by Warren and Wetmore, a pair of architects who gained prominence for their design of Grand Central Terminal. The property was built as the headquarters of the New York Central Railroad Company, and features a one-of-a-kind cupola at the top of the building. Today, the building is 94 percent occupied and home to industry leading companies such Swiss Re, Voya Financial, Clarion Partners and Reed Elsevier.

As an owner and operator of 230 Park Avenue since 2002, Monday managed an extensive capital campaign of approximately $200 million to reposition the building. Its efforts have been recognized with numerous industry awards, including five BOMA awards.

Monday Properties also undertook a series of renovations to improve energy efficiency and carbon emissions, earning EPA's ENERGY STAR rating. The building is the first pre-war office building to achieve LEED-EB Gold certification and one of only three buildings in New York City with the designation.

With the sale of 230 Park Avenue, Monday Properties has completed over $12 billion in transactions over the past decade.

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