NEW YORK—PrincetonProperties has purchased 104 West 40th Street in Midtown Manhattan, a 210,000-sq.-ft., 20-story class A office building situated next to Bryant Park.
Princeton Internationalacquired the property form Savanna, which purchased the building in 2010 and subsequently completed a $5 million capital improvement campaign at the property. Recent upgrades include an updated HVAC system and the installation of sprinkler infrastructure.
Josh Rahmani and Soly Halabi of Venture Capital Properties represented Princeton in the transaction, while Adam Spies and Doug Harmon of Eastdil Secured represented Savanna in the sale.
“We are thrilled to have acquired 104 West 40th Street,” said David Tawfik, president of Princeton International Properties. “This landmark building in the dynamic Bryant Park sub-market is a wonderful addition to our current portfolio of midtownbuildings.”