{"id":1004152476,"date":"2016-09-15T01:18:02","date_gmt":"2016-09-15T09:18:02","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004152476"},"modified":"2020-04-14T22:15:58","modified_gmt":"2020-04-15T06:15:58","slug":"normandy-trades-repositioned-nyc-office-tower","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/normandy-trades-repositioned-nyc-office-tower\/","title":{"rendered":"Normandy Trades Repositioned NYC Office Tower"},"content":{"rendered":"<p>By Barbra Murray, Contributing Editor<\/p>\n<div id=\"attachment_1004152480\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/09\/125_West_Roof_Resized20x13.8in.jpg\" target=\"_blank\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004152480\" data-attachment-id=\"1004152480\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/normandy-trades-repositioned-nyc-office-tower\/125_west_roof_resized20x13-8in\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/09\/125_West_Roof_Resized20x13.8in.jpg\" data-orig-size=\"1000,690\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;Evan Joseph Images&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1401450355&quot;,&quot;copyright&quot;:&quot;Copyright 2014 Evan Joseph Images&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"125_West_Roof_Resized20x13.8in\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/09\/125_West_Roof_Resized20x13.8in.jpg?w=1000\" class=\"wp-image-1004152480 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/09\/125_West_Roof_Resized20x13.8in.jpg\" alt=\"125 W. 25th St., Manhattan\" width=\"300\" height=\"207\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/09\/125_West_Roof_Resized20x13.8in.jpg 1000w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/09\/125_West_Roof_Resized20x13.8in.jpg?resize=300,207 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/09\/125_West_Roof_Resized20x13.8in.jpg?resize=768,530 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004152480\" class=\"wp-caption-text\">125 W. 25th St., Manhattan<\/p><\/div>\n<p><strong>New York<\/strong>\u2014<a href=\"https:\/\/www.normandyrealty.com\/normandycorporate\/\" target=\"_blank\" rel=\"nofollow\">Normandy Real Estate Partners<\/a> has sold the Manhattan <a href=\"https:\/\/www.commercialsearch.com\/news\/office\/\" target=\"_blank\">office tower<\/a> at 125 W. 25th St. for $150 million, handing the keys to <a href=\"https:\/\/www.afiaa.com\/en\/home.html\" target=\"_blank\" rel=\"nofollow\">AFIAA<\/a>, a Swiss pension fund. Three appears to be a magic number for Normandy; the company sold 125 W. 25th for nearly three times the amount it paid to purchase the 140,000-square-foot property\u2014approximately $54.6 million\u2014out of foreclosure three years ago.<\/p>\n<p>SBL Enterprises brokered the transaction with AFIAA.<\/p>\n<p>The property at 125 W. 25th recently emerged from a $20 million makeover. Normandy kicked off a redevelopment program soon after acquiring the Midtown South building. The real estate operator and fund manager shuttered the doors of the 11-story property and with the assistance of architectural firm <a href=\"https:\/\/www.manciniduffy.com\/\" target=\"_blank\" rel=\"nofollow\">Mancini Duffy<\/a>, transformed the Silicon Alley building into a haven for the TAMI set, offering large floor plates with open floor plans, a rooftop office penthouse, terraces and amenity space\u2014and an efficiency level that\u2019s eight\u00a0percent higher than that of similar buildings in the submarket.<\/p>\n<p>The project was good enough to secure financing. Acting on behalf of Normandy, commercial real estate services firm <a href=\"https:\/\/www.us.jll.com\/united-states\/en-us\" target=\"_blank\" rel=\"nofollow\">JLL<\/a> obtained a $72 million from Natixis in February 2015.<\/p>\n<p>The building\u00a0landed a big fish late last year when cycling startup Peloton Interactive Inc. leased more than 40,000 square feet across the top four floors\u2014including the penthouse\u2014for its headquarters. JLL is handling leasing at the office property.<\/p>\n<p><em>Rendering courtesy of Mancini Duffy<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The high-rise at 125 W. 25th St. was acquired by a Swiss pension fund for $150 million.<\/p>\n","protected":false},"author":969,"featured_media":1004152480,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21808,21825,21783,1600,21742,10,21747],"tags":[],"class_list":["post-1004152476","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-featured","category-finance","category-investment","category-new-york","category-latest","category-northeast","category-office"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Normandy Trades Repositioned NYC Office Tower - 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