{"id":1004286320,"date":"2018-12-17T02:41:01","date_gmt":"2018-12-17T10:41:01","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004286320"},"modified":"2022-12-08T19:57:31","modified_gmt":"2022-12-09T03:57:31","slug":"clarion-partners-acquires-282m-nyc-office-asset","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/clarion-partners-acquires-282m-nyc-office-asset\/","title":{"rendered":"Clarion Partners Acquires $282M NYC High-Rise"},"content":{"rendered":"<p>By Holly Dutton<\/p>\n<div id=\"attachment_1004286323\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/12\/114W41-e1544825579240.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004286323\" data-attachment-id=\"1004286323\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/clarion-partners-acquires-282m-nyc-office-asset\/114w41\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/12\/114W41-e1544825579240.jpg\" data-orig-size=\"1500,1124\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;8&quot;,&quot;credit&quot;:&quot;C. Taylor Crothers&quot;,&quot;camera&quot;:&quot;NIKON D810&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1529009611&quot;,&quot;copyright&quot;:&quot;C. Taylor Crothers&quot;,&quot;focal_length&quot;:&quot;24&quot;,&quot;iso&quot;:&quot;500&quot;,&quot;shutter_speed&quot;:&quot;0.33333333333333&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"114W41\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;114 W. 41st St.&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/12\/114W41-e1544825579240.jpg?w=1024\" class=\"wp-image-1004286323 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/12\/114W41-e1544825579240.jpg\" alt=\"\" width=\"300\" height=\"225\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/12\/114W41-e1544825579240.jpg 1500w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/12\/114W41-e1544825579240.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/12\/114W41-e1544825579240.jpg?resize=768,575 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/12\/114W41-e1544825579240.jpg?resize=1024,767 1024w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004286323\" class=\"wp-caption-text\">114W41<\/p><\/div>\n<p>Clarion Partners has acquired an office building in Midtown Manhattan for $282 million from Blackstone\u2019s EQ Office affiliate. Dubbed 114W41, the 22-story property&nbsp;encompasses a total of 349,274 square feet.<\/p>\n<p>Located at 114 W. 41<sup>st<\/sup> St., the asset was fully repositioned with nearly $30 million in recent capital improvements, including a new lobby and tenant-only amenity center. The building is 91 percent leased to 13 office tenants and several street-level restaurants. Major tenants include Roku, the New York headquarters of Guess?, Quartet Health, SpotCo, View the Space and Kensington Publishing.<\/p>\n<p>The property is close to Bryant Park and Grand Central Terminal as well as a wide array of hotels, restaurants and shopping. A Newmark Knight Frank team of James Kuhn, Edward Maher, David Colen and James Tribble represented the seller in the deal.<\/p>\n<p><em>\u201cThe property offers modern, collaborative office space with an urban feel, directly appealing to the new breed of cutting-edge, fast-growing TAMI tenants that are currently flocking to Bryant Park,\u201d<\/em> said Maher in prepared remarks. <em>\u201cThe asset further benefits from unobstructed views of Bryant Park, which is one of the busiest public spaces in the world.\u201d<\/em><\/p>\n<p>Blackstone <a href=\"https:\/\/www.commercialsearch.com\/news\/blackstone-expands-manhattan-lease-to-575-ksf\/\">just expanded its Manhattan lease<\/a> at Rudin Management Co.\u2019s 345 Park Ave., where it has been a tenant since 1988. The firm will soon occupy a total of 16 floors in the office tower.<\/p>\n<p><em>Image courtesy of Newmark Knight Frank<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Midtown Manhattan office building recently underwent $30 million in capital improvements. Newmark Knight Frank represented the seller, Blackstone\u2019s EQ Office affiliate. <\/p>\n","protected":false},"author":745,"featured_media":1004286323,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21783,1600,21742,10,21747],"tags":[32790,43400,34461,42485,33129],"class_list":["post-1004286320","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-investment","category-new-york","category-latest","category-northeast","category-office","tag-clarion-partners","tag-eq-office","tag-james-kuhn","tag-nkf","tag-the-blackstone-group"],"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>Clarion Partners Acquires $282M NYC High-Rise - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/clarion-partners-acquires-282m-nyc-office-asset\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Clarion Partners Acquires $282M NYC High-Rise\" \/>\n<meta property=\"og:description\" content=\"The Midtown Manhattan office building recently underwent $30 million in capital improvements. Newmark Knight Frank represented the seller, Blackstone\u2019s EQ Office affiliate.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/clarion-partners-acquires-282m-nyc-office-asset\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2018-12-17T10:41:01+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T03:57:31+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/12\/114W41-e1544825579240.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1500\" \/>\n\t<meta property=\"og:image:height\" content=\"1124\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Holly Dutton\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/clarion-partners-acquires-282m-nyc-office-asset\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/clarion-partners-acquires-282m-nyc-office-asset\/\",\"name\":\"Clarion Partners Acquires $282M NYC High-Rise - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/clarion-partners-acquires-282m-nyc-office-asset\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/clarion-partners-acquires-282m-nyc-office-asset\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/12\/114W41-e1544825579240.jpg\",\"datePublished\":\"2018-12-17T10:41:01+00:00\",\"dateModified\":\"2022-12-09T03:57:31+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/9259ffaba4775229ae3556b9555e566d\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/clarion-partners-acquires-282m-nyc-office-asset\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/clarion-partners-acquires-282m-nyc-office-asset\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/clarion-partners-acquires-282m-nyc-office-asset\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/12\/114W41-e1544825579240.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/12\/114W41-e1544825579240.jpg\",\"width\":1500,\"height\":1124,\"caption\":\"114 W. 41st St.\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/clarion-partners-acquires-282m-nyc-office-asset\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Clarion Partners Acquires $282M NYC High-Rise\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/9259ffaba4775229ae3556b9555e566d\",\"name\":\"Holly Dutton\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/05\/Holly-D-Dutton-e1622041566670.png?w=75\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/05\/Holly-D-Dutton-e1622041566670.png?w=75\",\"caption\":\"Holly Dutton\"},\"description\":\"Holly Dutton is a Senior Editor with Commercial Property Executive and Multi-Housing News. 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