 127-135 W. 33rd St. |
With the building now in its portfolio, TEI plans to keep the retail portion for long-term rental income and is reviewing the possibility of converting the non-retail space to office condos, according to a TEI release. A spokeswoman for TEI tells GlobeSt.com the building was 72% occupied. She adds the deal closed Oct. 12, but declined to reveal the cap rate.
 Greenburger |
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Greenburger and Bijan Karimian of TEI represented the firm in the deal, with Woody Heller and Will Silverman of Studley Inc. repping the seller.
TEI's latest addition to its stable of properties comes two months after the locally based company acquired 70 W. 36th St., also in Midtown, for $62 million. TEI also plans to convert this 160,000-sf property to office condos, as GlobeSt.com previously reported.
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