NY REIT Snags Twitter HQ In $335M Deal
Law360, New York (July 31, 2014, 1:19 PM EDT) -- New York REIT Inc., an affiliate of American Realty Capital, has agreed to buy Twitter Inc.'s Manhattan headquarters at 245-249 W. 17th St. for $335 million, according to a statement and regulatory filing released Thursday.
The 282,000-square-foot property is 99 percent leased, with Twitter as its largest tenant, representing 75 percent of the rent roll. Room & Board Inc. and Flywheel Sports Inc. are the two other tenants. All three have long-term leases with optional extensions.
“We are thrilled to have reached agreement to acquire the headquarters of Twitter. This flagship property located in one of Manhattan's most desirable submarkets has...
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