American Realty Capital New York City REIT has closed on the purchase of 1140 Avenue of the Americas in Midtown Manhattan for $180 million. The 22-story institutional-quality office building contains approximately 250,000 rentable sqf of office space and was funded with a combination of cash and mortgage financing. “We are pleased to announce that we have closed on the acquisition of 1140 Avenue of the Americas. This increases our portfolio to a total of six properties with an aggregate purchase price of approximately $700 million,” said Michael A. Happel, CEO, President and Secretary of NYCR. “We remain active buyers and expect to continue growing our New York City portfolio.”
