NEW YORK CITY-Barry Sternlicht's Starwood Capital bought 1414 Ave. of Americas, situated on the southeast of W. 58th Street, from Murray Hill Properties for $72 million. Sources said to The Post that the company is planning to turn the office building into a hotel.
Murray Hill had bought the building for $120.5 million in November 2007 with a loan of $65 million. RCG Longview, who signed the deed, has taken back a loan of $36 million on the property. For the full story, go to New York Post.
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