NEW YORK CITY-Two Trees Management, a family-owned real estate firm, has signed a contract to acquire a 340,000 square-foot office building at 50 West 23rd Street, Manhattan, from Moinian Group for $129.5 million. The acquisition is expected to be closed in this month.
It is the only office property in the firm's portfolio of assets. Meanwhile, the company has started the construction of a rental apartment tower featuring 900 units at 54th Street, 11th Avenue. For the full story, go to New York Observer.
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