"He picked up a phenomenal piece of property," a source close the deal comments.
First put on the market a year ago, the site drew no takers. This time, however it took only a month before a deal was in place. The triple class A site, which has terraces and features a Central Park view, was built in 1958 and underwent a complete renovation in 1993. Tenants at the 99% leased site include the Corcoran Group, which leases 40,000 sf, and Gleacher Nat West Inc., which is signed on for 30,000 sf. Rents in the building are advertised ranging from $40 to $80 per sf.
Douglas Harmon of Eastdil, who was the exclusive advisor to the deal, did not return repeated telephone calls for comment on the transaction.
Brener International is a private investment company that makes equity and mezzanine investments in small and middle market companies.
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