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Investcorp-Brickman Partner on Garment District Buy

NEW YORK CITY—Investcorp and Brickman have partnered on the purchase of two office buildings on 36th and 38th streets from New York REIT for a combined…

By John Jordan | Updated on November 08, 2017

229 W. 36th St. is a fully-leased 12-story office building that totals nearly 149,000 square feet. 229 W. 36th St. is a fully-leased 12-story office building that totals nearly 149,000 square feet.

NEW YORK CITY—Investcorp and Brickman have partnered on the purchase of two office buildings on 36th and 38th streets from New York REIT for a combined price of approximately $156 million.

The joint venture acquired 229 W. 36th St. and 256 W. 38th St. in Midtown Manhattan that are fully leased to a roster of more than 20 long-term tenants and combined total approximately 267,000 square feet. Investcorp states that both properties maintain strong cash flows, proven operating histories and high occupancy rates. 256 W. 38th St. is a 14-story, 117,902-square-foot office building. 229 W. 36th St. is a 12-story office building that totals nearly 149,000 square feet.

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