Columbia Property Trust JV buys Manhattan property for $205m

A venture of Normandy Real Estate Partners and Columbia Property Trust has agreed to pay $205 million for the office property at 250 Church St. in Manhattan. The seller was Norvin Properties.

The acquisition of the 240,000-square-foot, 15-story property is still under contract and is expected to close later this year.

The Real Deal reported plans were filed in 2017 to convert it into a residential property with 107 units; however, it has not been reported if the new owners will move forward on these plans.

The two companies also have teamed up at 799 Broadway in the Manhattan submarket of Greenwich Village, where they recently finalized a joint venture for a $300 million office development that will comprise 12 stories and 182,000 square feet.