1328 Broadway Two Herald Square
RFR acquired this Herald Square property in a creative acquisition involving the purchase of partnership interests in the entity that owned
the property.
Square Feet 360,000
Aquisition Date April 2000
Sale Date April 2007
RFR acquired this Herald Square property in a creative acquisition involving the purchase of partnership interests in the entity that owned the property. Following acquisition, RFR successfully completed a major leasing campaign and replaced non-credit tenants with quality firms like Publicis, H&M and The Limited. RFR completely refurbished the physical plant to reposition the asset and support the leasing program. Having improved net operating income from $4 million to $16 million in two years, RFR sold the asset into strong market in early 2007, achieving compelling investment returns.