140 West Street

140 West Street, New York, NY 10013, USA

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Located in Manhattan’s TriBeCa neighborhood, the upper 21 floors of this 32-story office tower are being redeveloped into luxury condominiums, which include lobby access as well as one cellar level of the building for amenity space.  Constructed in 1927 as the headquarters for the New York Telephone Company, this Art Deco building was the first prominent work by architect Ralph Walker. The lower floors of the building are used as commercial space for Verizon’s data centers and office use. A $200 million rehabilitation plan completed in 2005 repaired the building’s façade, restored the lobby’s 22-foot ceiling featuring murals depicting the history of communication, and replaced the windows.

Investment Highlights

• Within walking distance to the World Trade Center development, which includes several transportation hubs for subways, busses, and PATH trains to New Jersey
• Located within popular TriBeCa neighborhood that features world-famous restaurants and shops, stylish warehouse-loft conversions, and waterfront access to the Hudson River

CIM views urban investing as a discipline rather than a market niche or a trend.

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