Porven Real Estate purchases 204 Fifth for $43M – The Authentic Deal Magazine

Porven Real Estate purchases 204 Fifth for $43M

Four-tale professional creating sits across from Madison Square Park

204 Fifth Avenue (Credit rating: Google Maps)

Porven Real Estate, a New Jersey-centered corporation, has put in $42.5 million to acquire 204 Fifth Avenue from Artemis Companions, according to assets documents submitted Monday.

The fourteen,538-sq.-foot business office assets stands 4 stories tall across from Madison Square Park in the Garment District and is a Beaux-Arts professional creating. It was put on the sector with a $27 million asking value.

The creating was manufactured in 1913 and renovated in 2004. It beforehand sold for $29.5 million in January 2017.

Porven and Artemis could not right away be reached for remark.

The city had been planning a rezoning of the Garment District, but the de Blasio administration put a momentary hold on the strategy in excess of the summer months next a report recommending that the zoning be phased in to support defend garment field work.