NEW YORK CITY—Normandy Real Estate Partners ispurchasing an approximately 50% ownership interest in the80 and 90 Maiden Lane officebuildings here.


The Morristown, NJ-based real estate investment firm isacquiring the half stake in the properties from real estateinvestor Joe Chetrit, who owned the twin officebuildings with AM Property Group, according toCrain's New York Business.


With the transaction, Normandy and AM Property Group willjointly own the majority interest in the properties. The 25-story80 Maiden Lane building features almost 560,000 square feetof office space, while 90 Maiden Lane is a four-story,30,000-square-foot building. New York City landlord JaredKushner is reportedly partnering with Normandy in thetransaction for the half interest in 80 and 90 Maiden Lane and willbe taking a minority interest in the new property ownership.


Adam Spies and Doug Harmon,brokers at Eastdil Secured, arranged both salestransactions. Harmon declined to comment concerning the transaction.


Normandy plans to renovate 80 and 90 Maiden Lane, which willinclude improvements to 80 Maiden Lane's lobby and common areas.See story in Crain's New York Business.

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John Jordan

John Jordan is a veteran journalist with 36 years of print and digital media experience.