AmTrust RE has successfully acquired 360 Lexington Ave, a 268,000-square-foot office building in the Midtown East neighborhood of Manhattan for $65.5 million. Originally built in 1959 and currently at a 60% occupancy rate, this newly renovated property boasts modern upgrades such as an updated lobby and elevators.
In line with their commitment to providing top-notch tenant experiences, AmTrust plans to add additional amenities such as conference rooms and lounges. They also have plans for exterior renovations that will improve insulation and energy efficiency.
According to Jonathan Bennett, president of AmTrust RE: “As more companies require employees to return to the office either full-time or on a hybrid basis, we see great potential in well-maintained commercial properties like this one that are strategically located.”
The Newmark team consisting of Adam Spies, Adam Doneger Joshua King,and Marcela Fasulo represented both parties involved – buyer (AmTrust)and undisclosed seller – during the transaction process.
