Herald Square Properties and the Davis Companies are asking $125 million for a pair of Garment District office properties that total 210,000 square feet.
The buildings at 142 West 36th Street and 234 West 39th Street are located north of New York Penn Station. The latter building offers 30,000 square feet of development rights, allowing for a new owner to enlarge the structure, Crain’s reported. About 75 percent of total space at both buildings is set to become available in the next few years as many leases expire.
Eastdil Secured’s Douglas Harmon and Adam Spies are marketing the property.
Leasing software firm VTS moved into an office at 142 West 36th Street last year, as The Real Deal reported. [Crain’s] — Mark Maurer