Commercial real estate services provider Newmark arranged the sale of a 73,500-square-foot building in Manhattan, N.Y.

The value of the transaction was $31.2 million.

Maxim Properties sold the four-story building at 227 West 61st St. to Cofinance Inc., a European investment firm. The NYC Board of Education is leasing the property for Beacon High School until 2010.

Manhattan-based Newmark is an independent real estate services provider.

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