At $120.5M, NYC Office Sale is Double 2005 Acquisition Price

With New York City’s low cap rates, high financing costs and slowing rental growth rates weighing on its mind, APF Properties has decided to sell the 132,000-square-foot Manhattan office building at 1414 Avenue of The Americas. David Werner and Murray Hill Properties will acquire the asset for $120.5 million, or $912 per square foot.