NEW YORK CITY-The Fishers, one of the storied real-property families in New York, has sold a 49% interest in Park Avenue Plaza, a Midtown office building, to Rockpoint Group LLC, a firm that also possesses a 49% stake in another office tower managed by the family, for a total amount of $330 million.
The transaction corresponds to the family's strategic plan of trading minority stakes in their properties. Fisher Brothers is about to assume control over two distressed projects. For the full story, go to Wall Street Journal.
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