Hidrock Realty is selling an office building at 240 West 35th Street and expects to pull in upwards of $75 million for the 162,044-square-foot property with the help of a team at Jones Lang LaSalle, The Commercial Observer has learned.
City records show that Hidrock paid $58 million for the property in 2008, a 200 foot, 18-story building constructed in 1925. The firm infused $6 million into a capital improvement program that included renovations to the lobby, new elevators and updated HVAC systems. An affiliate of Meritage Properties reportedly provided $14 million in joint venture equity at the time of the purchase. Read More