NEW YORK CITY-A partnership between a Seattle-based property developer and a New York-based real estate investor has signed a tentative deal to purchase the downtown former Verizon tower. A venture of Sabey Corp. and YoungWoo & Associates has agreed to buy the property located at 375 Pearl St. from M&T Bank for above $100 million.
The proposed price is relatively cheap for the 32-story, 700,000-square-foot building. M&T Bank assumed control over the building from Taconic Investment Partners. For the full story, go to Wall Street Journal.
GlobeSt.com News Hub is your link to relevant real estate and business stories from other local, regional and national publications.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.