NEW YORK CITY-Bill Shanahan and Darcy Stacom of CB Richard Ellis have been selected to market the former Verizon tower located at 375 Pearl St.
M&T Bank is the mortgage holder of the building. It holds a loan with a face value of $110 million and expects to get the amount back from the selling of the tower with one-million-square-foot rentable space. The owner of the tower was Taconic Partners. The bank has inked a friendly hand-over deal with the owner. For the full story, go to New York Post.
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