[IMGCAP(2)]An industry source tells GlobeSt.com that CB RichardEllis Inc.'s William Shanahan and Darcy Stacom negotiated the dealon behalf of Macklowe Properties, but CBRE had no comment and didprovide confirmation by deadline. The industry source also notesthat the same two also repped Macklowe in the recent saleof 540 Madison Ave. and Two Grand Central Tower here forapproximately $705 million, as GlobeSt.com reported Wednesday.
[IMGCAP(3)]The purchase of the 23-story building, spanning from55th to 56th streets between Avenue of the Americas and SeventhAvenue, is part of a $3.95-billionagreement the firm made to acquire that 591-000-rentable-sfbuilding as well as two-million-sf GM Building,located between 58th and 59th streets at Fifth Avenue and CentralPark South, the 591,000-sf office building at 125 W. 55th St., andthe 664,000-sf Two Grand Central Tower at 44th Street betweenLexington and Third avenues. That portfolio purchase price includes$1.47 billion in cash, $10 million in stock and the assumption ofabout $2.5 billion in debt.
[IMGCAP(4)]Mortimer Zuckerman, chairman of the board anddirector of the Boston-based REIT, said at a Real Estate Board ofNew York presentation in June that the firm is committed to itslargest transaction to date amid this economic uncertainty. He saidthe GM building purchase reflected a long-term commitment,long-term confidence in the value of the properties and anunderlying confidence in the New York City economy.
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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.
