132 West 31st Street, New York

Office Acquisition

 

Tribeca Associates, in partnership with an institutional partner, purchased the leasehold interest for 132 West 31st Street. The team recognized the property’s proximity to a major transportation hub, Penn Station, made it an attractive space for office tenants and that the building was being under-utilized by its concentration of fashion-district/showroom leaseholders. A successful transition and re-positioning of the building resulted in a profitable sale.