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American Realty Capital buys Interior Design Building for $32.7 Million

A deed recorded yesterday, July 8th 2010, shows that American Realty Capital has bought the Interior Design Building at 306 East 61st Street for $32,755,955, or $561 per square foot.  The building features 51,640 square feet of office space and 6,700 of retail space. American Realty Capital has invested in several properties in New York State, but this is the first one it has acquired in New York City.

306-East-51st-Street-ManhattanThe sellers bought the building in 2001 for $12.55 million, according to a Crain’s New York article.

Current asking rents in the building are at $50 per square foot for the entire 7th floor, while interior designer Liz O’Brien reportedly paid up to $135 per square foot to occupy a ground floor shop in the building back in September 2009.

Over 100 office buildings in New York City are currently listed for sale and 655 office spaces are listed for lease. For a full list please browse our New York City commercial for sale section.