NEW YORK CITY — The Barcel Group has brokered the sale of a 15-story office tower located at 202 W. 40th St. in New York City for $22.8 million. The building totals 38,000 square feet and has recently undergone renovations. A retail unit in the building is occupied by Fashion 40 Lounge. Marcel Fridman of Barcel represented both undisclosed parties in the transaction. The property traded at a price of $600 per square foot and a capitalization rate of 5.5 percent. Acquisition financing was arranged by Joseph Taub of Meridian Capital.
BARCEL BROKERS $22.8 MILLION OFFICE SALE