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New York REIT's Liquidation Continues With Four-Building Office Offering
245-249 W 17th St., Twitter's New York headquarters
New York REIT continues with its attempt to liquidate all of its assets with an offering of four office properties.
Though they could still be sold as individual units, New York REIT is hoping to package 245-249 West 17th St., 218 West 18th St., 229 West 36th St. and 256 West 38th St. together for a sale that it estimates could be worth $700M, The Real Deal reports.
The offering boasts a couple of big-name tenants, with Twitter anchoring 245-249 West 17th St., having sublet 24K of its 140K SF to Major League Baseball. New York REIT bought the building in 2014 for $335M.
218 West 18th St. is the New York headquarters for Red Bull. The four buildings contain a total of 750K SF, and they are being marketed by Cushman & Wakefield.
