Empire Capital Holdings has agreed to acquire for $100M Invesco's stake in a zig-zag residential tower at 550 West 54th Street, 162 luxury units on the top 11 floors, known as The Collection at Mercedes House.
Invesco bought The Collection from developer Two Trees Management for $170M in 2014.
The luxury units were part of the 974-unit apartment tower, with Two Trees' initial planning to sell the luxury condos on the upper floors to individual buyers, before seizing the opportunity for a bulk sale to Invesco.
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