Investcorp JV downsizes in NYC

A joint venture has sold a 17-story showroom/loft office building in New York City's Fashion District for an undisclosed price.

The property, located at 250 West 39th St., comprises 196,000 square feet of class B space.

Investcorp Real Estate Group and L&L Acquisitions, which purchased the property in April 2005, sold the building to a partnership between Lincoln Properties and the State of Illinois Pension System.

During their two-year ownership, Investcorp and L&L performed common-area upgrades and other capital improvements, according to a press statement.

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