NEW YORK CITY—HabibAmerican Bank has acquired 150 East 45th St., in Midtown East. The32,270-square foot building, also known as the Lord MemorialBuilding for Children's Aid, traded for $28.25 million, or $875 persquare foot.
JLL Capital Markets brokered the sale of the seven-story, mixeduse property.
The building, designed by Gibbons, Heidtmann & Salvador, wasconstructed in 1950 as a three-story building for Children's Aid.The office building was then developed into seven stories in themid-1960s, adding approximately 5,168 square feet of retail spaceon the ground floor and around 27,102 square feet of office spaceon the second through seventh floors.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
