AMERICAN REALTY BUYS MIDTOWN BUILDING FOR $65M

NEW YORK CITY — American Realty Capital New York Recovery REIT has agreed to buy the fee simple interest in a 149,000-square-foot office building in Midtown Manhattan. The building at 229 West 36th St. traded for $65 million. The property is fully leased and tenants include American Language Communication Center Inc. and Early Bird Delivery Systems LLC. The property is the second office building American Realty has placed under contract in the Garment District in the last two weeks. The company previously announced it would acquire 256 West 38th St. for $48.6 million.