Skip to content
Subscriber Only

Clarion Said to Buy Midtown South Tower for $225 Million

Clarion Partners LLC agreed to buy a 108-year-old office tower near Manhattan’s Union Square for $225 million, more than twice what it sold for three years ago, as demand in the area surges, a person familiar with the deal said.

Clarion, a New York-based manager of real estate investment funds, has a contract to purchase 100-104 Fifth Ave. from Kaufman Organization and Invesco Ltd., said the person, who asked not to be identified because the negotiations are private. The sellers paid $93.5 million for the 17-story, 270,000-square-foot (25,000-square-meter) property in 2010.