Midtown Office Tower Changes Hands For $83 Million

MIDTOWN MANHATTAN, NY — A Midtown Manhattan office building was bought for $83.1 million by owners who hope to market the space to tenants in the technology, advertising, media and information sectors.

The 13-story, high-rise building located at 250 West 54th Street — between Seventh and Eighth avenues — contains 145,170-square-feet of office space, according to a press release. The building was acquired by real estate firm Zar Property from Ascot Properties Limited Partnership, according to a press release. The Newmark Grubb Knight Frank firm brokered the deal.

"The building is uniquely located just steps from Broadway, Columbus Circle and Central Park," Paul Davidson, a senior managing director at Newmark Grubb Knight Frank, said in a statement. "Its 11- to 15-foot ceiling heights, classic copper façade and exposed brick interiors present the new owners with the opportunity to create a highly-flexible creative loft office experience in a location with tremendous transit access."

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