Norway鈥檚 sovereign wealth fund and have sold an office property in central New York City to SJP Properties and .
Norges Bank Real Estate Management (NBREM), which invests on behalf the NOK8.35trn (鈧�859bn) Government Pension Fund Global, said it would receive $122m (鈧�107.4m) for its 49.9% stake in 470 Park Avenue South.
The 301,178sqft asset was one of the first US properties owned by the Norwegian fund.
It was part of a $1.2bn portfolio of assets in New York, Washington DC and Boston, in which NBREM bought a 49.9% stake from TH Real Estate in 2013.
Earlier this year, NBREM bought half of TH Real Estate鈥檚 stake in a mixed-use building in Boston for $291m.
