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CXP Adds Two Chelsea Towers to NYC Footprint

The acquisitions from New York REIT, which is liquidating, “will further establish Columbia as a significant player in Manhattan's most dynamic office district,” says Nelson Mills, president and CEO of Columbia Property Trust.

By Paul Bubny | paulbubny | Updated on October 12, 2017

Exterior of boutique office building Twitter’s New York offices are housed at 245 W. 17th St.

NEW YORK CITY—Columbia Property Trust (CXP) has added two Midtown South properties, including the New York City offices of Twitter, to its holdings here. The REIT said Wednesday afternoon that it had acquired 245-249 W. 17th St. and 218 W. 18th St. from New York REIT (NYRT) for $514 million.

“Our acquisition of these prime Midtown South buildings allows us to expand within New York, where we already held the largest concentration in our portfolio, and will further establish Columbia as a significant player in Manhattan’s most dynamic office district,” says Nelson Mills, president and CEO of CXP. “We view these acquisitions, along with our recent share repurchases, as an excellent use of the capital raised from our non-core dispositions.”

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