In mid June, Donald Trump and Conseco reached an agreement on a long-standing dispute over control and distribution of profits of the Fifth Avenue property. The parties mutually agreed to sell the building. In 1998, the pair purchased the 50-story property for $878 million, with Conseco making a $211 million equity investment and Trump $11 million.
In May, a three-member arbitration panel voted that Trump must sell his 50% stake in the skyscraper to bankrupt insurer Conseco for $15.6 million (see earlier story). Conseco filed for bankruptcy-court protection last December.
Tenants at the 767 Fifth, where rents can go from $90 per sf and up, include GM Corp., Bank of America and Estee Lauder.
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