Northeast

NEW YORK CITY — American Realty Capital New York Recovery REIT Inc. (NYRR) has entered into an agreement to acquire the fee simple interest in a 10-story office building in Manhattan for $220.3 million. The 347,000-square-foot building is located at 333 W. 34th St. Midtown and is fully occupied. NYRR is purchasing the interest from SL Green Realty Corp. (SL Green). Tenants at the building include The Segal Co., The Metropolitan Transportation Authority, Godiva Chocolatier Inc. and Sam Ash New York Megastores LLC. The Jones Lang LaSalle New York Capital Markets team represented SL Green in this transaction.

PHILADELPHIA — SSH Real Estate has sold Chestnut Place, a 140,000-square-foot, Class B office building in Philadelphia, to a partnership led by Alterra Property Group LLC for $17.5 million. The seller was 15th and Chestnut L.P., a limited partnership led by general partners Peter Soens and Jeffrey Seligsohn, principals of SSH Real Estate. The partnership acquired the building in 2005 for approximately $11.4 million. During the past several years, SSH Real Estate has positioned selected office leases to have the flexibility to allow for residential conversion. The building is located at the corner of 15th and Chestnut streets.

NORWALK, CONN. — Mack-Cali Realty Corp. has sold its office property located at 40 Richards Ave. in Norwalk for $16.5 million. The Davis Cos. purchased the seven-story, 145,487-square-foot property. The office building was 64 percent occupied at the time of sale. Matthew Keefe of HK Group represented Mack-Cali in the transaction.