West 57

West 57

Location: Manhattan, NY
Property Type: Office
Size: 173,000 square feet
Investment Type: Preferred Equity
Investment Size: $30,600,000
Date of Investment: January 2007

RCG Longview made a subordinate equity investment in a 173,000 square foot, 15-story, landmarked class "A” office/retail building located in Midtown West in New York City. The Property is 99% leased to boutique tenants.  The lease turnover in first two years of the hold period and the opportunity to add additional leaseable space on top of the building will provide significant increase to the cash flows.