Vornado Realty Trust declined to identify the buyer of the building, where rents range from $990 a month for studios to $2,271 a month for two-bedroom units. The REIT retains a garage next to the River North building, which provides parking for its 3.5-million-sf Merchandise Mart.
Meanwhile, the 340 on the Park condominium development in Lakeshore East has received $16 million in mezzanine financing from McLean, VA-based JER Partners. LR Development Co., Magellan Development Co. and Near North Properties is building the 344-unit, 62-story tower at 340 E. Randolph St.
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