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. GlobeSt.com 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. 

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