Qatari firm to buy Garment District buildings for $140M

Alduwaliya Asset Management in contract for 142 West 36th Street and 234 West 39th Street.

TRD NEW YORK /
May.May 08, 2019 10:00 AM
142 West 36th Street and 234 West 39th Street (Credit: Google Maps)

142 West 36th Street and 234 West 39th Street (Credit: Google Maps)

A Qatari investment firm is in contract to buy two Garment District buildings for $140 million.

Alduwaliya Asset Management is acquiring the 17-story 142 West 36th Street and 10-story 234 West 39th Street, according to the New York Post. The buildings, which span 119,203 square feet and 91,943 square feet respectively, were sold by Tod Waterman and USAA, who paid $118 million for the properties in 2015.

Doug Harmon and Adam Spies at Cushman & Wakefield negotiated on the deal.

The Doha-based firm already has a presence in the neighborhood. In 2016, it paid $167.1 million to buy the 293-key Hilton Homewood Suites at 312 West 37th Street.

Qatar-linked firms have been active in recent months. The government-owned Wafra was recently revealed to be a landlord partner in the $900 million sale of the Coca Cola building. The firm was also reported to be backing a potential $200 million fund raise in flexible-office provider Knotel. [NYP] — David Jeans


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