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NYRR Nabs Worldwide Plaza

NEW YORK CITY-The large Midtown office building also includes retail space and an off-Broadway theater.

By Rayna Katz | Updated on November 01, 2013

NEW YORK CITY-It’s official: American Realty Capital New York Recovery REIT has closed on its purchase of a 48.9% equity interest in Worldwide Plaza, for $220 million. The seller, WWP Sponsor—which is controlled by a joint venture consisting of George Comfort & Sons,  RCG Longview, and DRA Advisors—retained the remaining 51.1% equity interest.

Located on eighth avenue, between 49th and 50th streets, Worldwide Plaza is a 49-story office building with about 1.8 million rentable square feet of office space, 30,000 square feet of retail space, a five-stage off-Broadway theater, a 38,000-square-foot foot fitness center and a garage providing 475 parking spaces. The asset is 91% leased to a number of large credit tenants, including Nomura Holding America and Cravath, Swaine & Moore.

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