Investcorp-Brickman Partner on Garment District Buy

229 W. 36th St. is a fully-leased 12-story office building that totals nearly 149,000 square feet.

NEW YORK CITY—Investcorp and Brickman have partnered on the purchase of two office buildings on 36^th and 38^th streets from New York REIT for a combined price of approximately $156 million.

The joint venture acquired 229 W. 36th St. and 256 W. 38th St. in Midtown Manhattan that are fully leased to a roster of more than 20 long-term tenants and combined total approximately 267,000 square feet. Investcorp states that both properties maintain strong cash flows, proven operating histories and high occupancy rates. 256 W. 38^th St. is a 14-story, 117,902-square-foot office building. 229 W. 36^th St. is a 12-story office building that totals nearly 149,000 square feet.