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JLL closes on DKNY building for $63m: Jones Lang Lasalle.

On behalf of Silt Asset Management, LLC, Jones Lang LaSalle's (JLL) Capital Markets Group closed the sale of 240 West 40th Street in Manhattan. AEW Capital Management purchased the 159,774 square-foot property for $63 million.

Vice Chairmen Richard Baxter, Jon Caplan, Scott Latham and Yoron Cohen and Senior Vice President Stephen Shapiro led the JLL team on this transaction.

The 13-story, loft-style building is 100 percent leased to LVMH subsidiary, DKNY and is located at the confluence of the Garment Center and Times Square office markets.

"Home to DKNY for many years; the Property was renovated to their specifications with a spectacular glass enclosed penthouse" said Shapiro. "The property enjoys outstanding access to multiple transportation hubs, and is located within close proximity to many of the City's newest and most luxurious residential housing on the Far West Side."

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Title Annotation:SELLING POINTS
Comment:JLL closes on DKNY building for $63m: Jones Lang Lasalle.(SELLING POINTS)
Publication:Real Estate Weekly
Date:Feb 5, 2014
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