Swiss foundation for international real estate investments AFIAA has made its second investment in New York with the acquisition of an office and retail property.
AFIAA acquired the property at 45 West 45th Street in Manhattan from New York-based Vanbarton Group for an undisclosed sum.
The CHF2.6bn (€2.4bn) foundation said the acquisition was made on behalf of its global investment arm which invests in Europe, North America and Australia.
Located in Midtown Manhattan, the office building was constructed in 1923 and underwent extensive renovation work over time and in 2018 the latest. Its total floor space for office and retail/restaurant use amounts to 133,100sqft, AFIAA said.
Sebastian Feix, AFIAA’s head of international transactions, said: “Thanks to its location and flexible floor plan layout, this property perfectly complements our portfolio in Manhattan.”
AFIAA already holds an asset at 119-125 West 25th Street.