Search
 

270 Lafayette Sells for $39.3 Mil

NEW YORK CITY-The purchase is the Olnick Organization's first office building investment. Most of its Manhattan portfolio is residential. The seller, Olmstead Properties, will use the proceeds for other real estate investments.

By John Howe | Updated on February 09, 2001

NEW YORK CITY-The 15-story building at 270 Lafayette St. at the corner of Prince St. has been sold by Olmstead Properties for $39.3 million to the Olnick Organization. Erected as a printing building in the 1920s, it has approximately 170,000 sf of rentable space and houses tenants such as Interior Design magazine, the Literary Group and Flutie NY Corp. in spaces ranging from 400 sf to 7,000 sf. Rents average $47 per sf. The largest retail tenants are Roots and Brian Windsor Art & Antiques.

Most of Olnick’s properties in Manhattan are residential. This is the firm’s first foray into the office market. Olmstead owns and repositions class B office buildings.

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?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

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

  • Free unlimited access to GlobeSt.com'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 ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.