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ASB Buys Midtown South Office Loft

NEW YORK CITY—The more than 117,000-square-foot asset was picked up in a joint venture with George Comfort & Sons.

By Rayna Katz | Updated on January 09, 2015

NEW YORK CITY—ASB Real Estate Investments has acquired 158 W. 27th St., a 12-story loft office building for $82.5 million. ASB made the investment in the 117,158-square-foot space on behalf of its Allegiance Fund, a $4 billion core investment vehicle, in a joint venture with George Comfort & Sons.

The building, located between 6th and 7th Avenues, is 92% leased and draws a diverse rent roll of tenants in financial services, fitness, technology, fashion, architecture and real estate. Within walking distance are the Fashion Institute of Technology, Penn Station, Madison Square Park, Eataly, the Flatiron District, Tiffany’s HQ, and the Hudson Yards District as well as burgeoning residential neighborhoods.

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