JLL Capital Markets has arranged a $62 million preferred equity investment for 51 Astor Place, a 12-story office building in East Village, Manhattan. Designed by Fumihiko Maki, the structure spans approximately 386,000 square feet and occupies a full block bordered by Astor Place, Third Avenue, Fourth Avenue, and East 9th Street.

Completed in 2013, 51 Astor place is LEED Gold-certified and includes amenities such as a fitness center, tenant lounge, conference space, and a private terrace. It is currently leased to a mix of office and retail tenants, including Intuit, Perceptive Advisors, Tudor Investments, and DailyMail.com.

Transit nearby the property includes the 6 train at the Astor Place station and the R and W trains at the 8th Street–NYU station.

“Despite broader uncertainty, investor appetite for institutional-quality office assets has continued to deepen, particularly for newer construction,” said Drew Isaacson, senior managing director at JLL Capital Markets. “As highlighted in JLL’s recent research, top-tier buildings like 51 Astor Place with strong tenancy and limited competitive supply are attracting differentiated capital seeking long-term durability and upside.”

Source: New York YIMBY