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Report: Newly constructed NYC rental tower to sell for $110M

Forkosh Development Group is poised to divest its newly constructed 105-unit rental property in New York City's Murray Hill neighborhood for $110 million, The Real Deal reported, citing unnamed sources.

The developer struck a deal to sell the building to the Gilardian family, which manages the Gilar Group and controls Gilar Realty LLC, and it is anticipated to close over "the next few weeks," the publication noted.

The 23-story building, called the Theater House, spans 126,000 square feet at 237 E. 34th St. The property was completed in March and was placed on the market for sale in June.

The buyer and seller were not immediately available for comment. Meridian Capital Group, which is brokering the transaction, also did not comment on the matter, according to the publication.