NEW YORK CITY-It's a deal as pretty as a picture: the home of MAC Cosmetics' corporate offices has sold for almost $30 million higher than its original acquisition price. After giving 130 Prince St. a makeover in 2007, Waterman Interests LLC has disposed of the 88,000-square-foot mixed-use property to Invesco for $140.5 million.

Waterman, along with institutional investors advised by JP Morgan Asset Management, purchased the property four years ago for $112 million and implemented a capital improvement program to capitalize on the building’s full value. In addition to MAC’s office space, the property is 96% leased to ground-floor retail such as Cole Haan, Lacoste, True Religion Jeans, Barbour Inc. and Monika Chang.

Philip Waterman III, founder and managing member of Waterman Interests, LLC, says the property has delivered "exceptional" returns for investors. “We certainly hope and expect to repeat this type of result as we continue to grow the company in the Manhattan office market, and greatly appreciate the support that our partners at J.P. Morgan Asset Management, and their pension fund clients have given the company.”