A fully leased office building in the Midtown section of Manhattan, N.Y., has sold to a joint venture for an undisclosed price.
The partnership of Paramount Group Inc. and Sherwood Equities Inc. purchased the 18-story property from SL Green Realty Corp. Located at 440 Ninth Ave., the building comprises 398,000 square feet.
According to a press statement, the property “recently underwent tens of millions of dollars in capital improvements, thereby minimizing the need for additional alterations.”
At the time of sale, the three largest tenants on-site were B & H Photo, Duane Reade and eEmerge.