A $48.6 million deal for a building that traded for $30 million only 18 months ago — a $250 per square foot to $400 per square foot price increase – is further evidence that Garment District real estate is on the rise. According to the New York Post, the 118,200 square-foot former apparel factory at 256 West 38th Street sold to American Realty Capital New York Recovery REIT in a Studley Capital Transaction Group-brokered deal. The seller was a a joint venture [more]
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