In mid June, previous owners Donald Trump and Conseco reached an agreement on a long-standing dispute over control and distribution of profits of the Fifth Avenue property. They 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. The month before, a three-member arbitration panel voted that Trump must sell his 50% stake in the skyscraper to bankrupt insurer Conseco for $15.6 million. Conseco filed for bankruptcy-court protection last December.
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