A New JV Buys 180 Maiden Lane

NEW YORK CITY—Clarion Partners and joint venture partner Murray Hill Properties have agreed to purchase 180 Maiden Lane, a 41-story, class A- office tower in Lower Manhattan that spans more than 1.2 million square feet. The property sold for $470 million, or $430 per-square-foot, according to industry data. The move marks the joint venture’s first acquisition; others are expected. Office space throughout the city, a specialty of Murray Hill Properties, is likely to be a key focus for the partnership.

The property provides more than 1.2 million square feet. It was built in 1980, renovated in 2000 and boasts panoramic views of New York Harbor, the Statue of Liberty and the South Street Seaport. The property is Energy Star certified and was awarded LEED certification earlier this year. It is located within walking distance to Wall Street, the New York Stock Exchange and a major transportation hub.