Commerz Real, a subsidiary of Commerzbank AG, has purchased the 25-story office building at 222 E. 41st Street in New York City for $333 million. The company purchased the property through its hausInvest open-ended real estate fund.
REIT Columbia Property Trust was the seller of the property.
222 E. 41st Street was developed by Tishman Speyer in 2001, “and thus ranks among the small number of newer buildings in midtown Manhattan,” said Henning Koch, global head of transactions at Commerz Real.
The building accommodates a medical center belonging to New York University (NYU) under the brand name “NYU Langone”, under which NYU already operates three hospitals and various medical centers in the metropolis. NYU is currently conducting conversion work for future medical facilities; this work will be concluded by August 2018.
The property is located three blocks from Grand Central Terminal, the world’s largest railway station. The real estate submarke
