NEW YORK CITY-Greenwich Thames Realty surpassed Sam Zell's Equity Residential in winning a bid for a vacant land site located at 133-135 Greenwich St. in downtown Manhattan during a bankruptcy land auction.
Greenwich Thames paid $19.6 million for the site. The offer price was less than half of what Ofek International Real Estate paid for the land in 2007. Andrew Eckstein represented the lender U.S. Bancorp in the auction. Equity Residential also bid for the Greenwich site. For the full story, go to Wall Street Journal.
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