KLM Construction Corporation acquired an 110,000-square-foot building at 920 Broadway in the Flatiron District for $120 million.
The Carlyle Group and ClearRock Properties handed off the 16-story office property near East 21st Street for $1,100 per square foot – a record for the area, the New York Post reported. Eastdil Secured brokers Adam Spies, Doug Harmon and Adam Doneger arranged the deal.
Asking rents in the neighborhood range from $75 to $85 per square foot on average.
Last October, Carlyle and ClearRock planned to invest $10 million in renovations to upgrade the lobby and façade.