NEW YORK CITY-O’Connor Capital Partners has completed the sale of the Upper East Side retail condominium at Manhattan House to Madison Capital for $86 million. The deal marks a major milestone for the $1.1 billion condominium conversion of Manhattan House here.

Brian Fallon, partner at O’Connor Capital Partners, tells that the business plan for the Manhattan House conversion always anticipated the sale of the commercial premises prior to year end 2008. “Given the capital markets, this is a significant milestone for both O’Connor Capital Partners and Madison Capital.”

Fallon tells that the commercial premises were offered to the market during the summer. He further notes that it was a very “spirited competition” with “many interested parties.

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