381-Park-Avenue-S.-Manhattan

Olmstead, Vertex Buy Two Manhattan Office Buildings for $104M

by Taylor Williams

NEW YORK CITY — A partnership between locally based investment firm Olmstead Properties and Vertex, a newly launched platform, has purchased two office buildings in Manhattan’s Flatiron District for $104 million. The buildings are located at 373 and 381 Park Avenue S., which rise 12 and 17 stories and total 112,000 and 244,000 square feet, respectively. The seller was ATCO Properties & Management. Adam Spies, Adam Doneger, Josh King, Marcella Fasulo and Meaghan Philbin of Newmark brokered the transaction. The new ownership plans to implement capital improvements and has tapped COOKFOX Architects to lead the design.

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