NEW YORK CITY—American Realty Capital New York City REIT, Inc. has closed on its acquisition of 570 Seventh Ave., for $170.3 million. The seller reportedly was a joint venture between the Carlyle Group and Capstone Equities, which paid $83 million for the property last year. was unable to reach the joint venture parties by press time.

Located in Times Square, the 21-story class B asset features approximately 170,000 rentable square feet and is 76% leased as of the acquisition date. The property’s largest tenants are NY Loves Us, Inc. and Klestadt & Winters, LLP. 

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?


© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.



Join GlobeSt

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

  • Free unlimited access to'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 and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2023 ALM Global, LLC. All Rights Reserved.