Search
 

95 Morton St. Trades for $68M

NEW YORK CITY-Dallas-based Lincoln Property Co. felt the time was right to make a purchase here. For $68 million, the firm acquired the 202,426-sf 95 Morton St. in West Greenwich Village.

By Barbara Jarvie | Updated on January 13, 2004

NEW YORK CITY-After considering numerous Manhattan properties, Dallas-based Lincoln Property Co., on behalf of an institutional client, purchased 95 Morton St., an eight-story 202,426-sf boutique office building for $68 million, or $335 per sf. The purchase marks the company’s first venture into the New York City real estate marketplace.

Executive vice presidents William Shanahan and Darcy Stacom from CB Richard Ellis’ Investment Properties arranged the transaction on behalf of joint sellers, Brack Capital Real Estate (BCRE) and Stellar Management, while senior vice presidents James Stein and Jenifer Ratcliffe with vice president Jim Kelly of Lincoln Property advised the buyer.

Stein says the property possesses all of the qualities Lincoln was seeking, namely “an exceptional location, excellent condition, strong tenancy, operating efficiency and a unique ambiance.”

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.