Clarion Partners bought 114 West 41st Street (114W41) in Midtown Manhattan’s Bryant Park submarket for $282m. The 22-story mixed-use building, totaling 349,274 sq ft, is currently 91 percent leased to 13 office tenants and several street-level restaurants. Major office users include Roku, Quartet Health, View the Space, Kensington Publishing, SpotCo and the New York headquarters of Guess?. The property recently underwent $30m in capital improvements by the sellers, Blackstone and EQ Office. Newmark Knight Frank represented the sellers and will stay on board to lease the property behalf of the new owner.
“114W41 offers modern, collaborative office space with an urban feel, directly appealing to the new breed of cutting-edge, fast-growing TAMI tenants that are currently flocking to Bryant Park,” said Edward Maher, vice chairman at NKF. “The asset further benefits from unobstructed views of Bryant Park, which is one of the busiest public spaces in the world.”
