Non-Profit Sells Part of New York City HQ
- Feb 07, 2020
Sheltering Arms, a social services non-profit, has sold one floor of its current headquarters in Midtown Manhattan for $7.5 million and has signed a 25,000-square-foot lease in lower Manhattan. Transwestern Commercial Services represented the non-profit in both transactions.
Sheltering Arms is planning to sell the entirety of its three-story condominium headquarters at 305 Seventh Ave. The 9,476-square-foot third floor has been acquired by the Consortium for Workers Education, a workforce preparation and training organization. The buyer was represented by Lipinski Real Estate Advisors.
Sheltering Arms will move to 25 Broadway, also known as the Cunard Building, by the middle of this year. The 22-story Class A property hosts other non-profit tenants, including Teach for America and the American Thoracic Society. The owner of Cunard was represented by CBRE.
Transwestern’s team included Partners Lindsay Ornstein and Stephen Powers, Vice President Thomas Hines and Senior Associate Jake Cinti. In May 2019, the first three represented a charter school non-profit in a South Bronx deal.