A mid-block Chelsea office building is in contract to Afiaa, the Swiss Foundation for International Real Estate Investments, for $99.35 million.
The 12-story building at 158 W. 27th St. is being sold by ASB Capital Management, an investment manager from DC and local George Comfort & Sons. They bought it in December 2014 for $82.5 million from Emmes and spent $10 million for a new entrance and work on the lobby, roof deck and mechanicals.
The sellers hired the Cushman & Wakefield capital markets team of Adam Spies, Douglas Harmon, Josh King, Marcella Fasulo, Adam Doneger and Kevin Donner to market the building between Sixth and Seventh avenues and centered between Hudson Yards, Madison Square Park and Herald Square.
Tenants in its 118,766 square feet include Furnished Quarters, BDG Media and Planet Fitness, which leases a retail space of almost 20,000 square feet. New tenants are signing rents at $72 per square foot.
At the end of 2016, Afiaa bought the nearby 119-25 W. 25th St. for $150 million from Normandy Real Estate Partners, also through the C&W team.
In addition, Afiaa is closing this week on 45 W. 45th St. from Vanbarton Group for $126 million through Hodges Ward Elliott.
The parties declined to comment or couldn’t be reached.
