(Mark your calendars: RealShare New York Oct. 12 in New York.)

NEW YORK CITY-Macklowe Properties has closed on the purchase of 737 Park Ave. for $253 million. The firm bought the 103-unit residential building with partner CIM Group, a Los Angeles-based real estate fund manager.

Seller Katz 737 Corp. was represented by the New York Capital Markets team at Jones Lang LaSalle. Vice chairmen Jon Caplan, Richard Baxter, Yoron Cohen, Scott Latham and EVP Glenn Tolchin worked on the deal. Howard Michaels, at The Carlton Group, advised Macklowe.

Currently a mix of market rate and rent-stabilized rentals, Macklowe’s plans for the building are unknown, though speculation has run rampant that they will be converted to condos.

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Caplan, the JLL vice chairman, spoke of the rarity of the property, and the investor interest it attracted, in a prepared statement, saying, “This exclusive Park Avenue building is one of the finest New York City has to offer, and garnered intense interest from investors, as pre-war residential rental buildings in premier locations are almost unheard of.” The building sits on the northeast corner of East 71^st Street and Park Avenue.

Macklowe Properties and CIM did not return calls from GlobeSt.com seeking comment. CIM’s other New York City properties include the former site of the Drake Hotel, which is being redeveloped with Macklowe, which bought and demolished the hotel in 2006.