Japanese investor Unizo Holdings, which has bought more than $1 billion worth of New York real estate since entering the city five years ago, is looking to sell another of its properties.
It wasn’t immediately clear what Unizo was asking for the building, but sources said it could trade for more than $250 million.
Unizo bought the 1920s-era building at the corner of Ninth Avenue and West 35th Street in late 2013 for $211.5 million.
Since that time, Unizo made capital upgrades to the building including modernizing its elevators, and it inked deals such as an expansion with B&H Photo, which has its executive offices at 440 Ninth just a block north of its iconic store on West 34th Street.
It was the first building Unizo purchased in New York in 2013, when the company was then known as Jowa Holdings. In all, Unizo’s spent $1.3 billion acquiring six office properties in the city including the glass-and-steel office building at 685 Third Avenue, which it purchased last year for $467.5 million.
The company’s also made several investments in Washington, D.C.
The company paid a combined $412 million to purchase its stakes in the properties in 2015, and they’re expected to sell for a combined value of $435 million.