Morningstar, along with managing director Andrew Scandalios,will lead the investment sales team on behalf of the owner.Morningstar tells GlobeSt.com that the building has commanded "alot of interest" from potential buyers thus far, but he didn'tdisclose any identities at this time.
He explains that he cannot disclose the seller's identity atthis time, but public records indicate that Massachusetts MutualLife Insurance Co. is the seller. Morningstar says that the reasonfor selling is "to take a profit…pure and simple." He notes thatalthough there is no set bid date, it should most likely be withinthree to four weeks.
Riverbank West is located at 560 W. 43rd St. in the West 42ndStreet corridor, a residential submarket comprised primarily ofnewly constructed luxury rental and condominium product. Theproperty, which historically has enjoyed occupancy in the high90%-range, has a private driveway and plaza and 85% of theapartments have balconies.
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
