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NYC office building hits the market for $275M

Savanna and the Silvermintz family are putting a 166,000-square-foot Chelsea office building at 540 W. 26th St. in New York City on the block for roughly $275 million, The Real Deal reported.

According to the report, Roc Nation, an entertainment company founded by rapper Jay-Z, occupies 73,000 square feet in the property under a lease running through 2036, with the rest of the office space leased through 2045 to The World School. The building also contains 7,300 square feet of vacant retail space.

Cushman & Wakefield is handling the listing, the publication added.