NEW YORK CITY-Harry Macklowe, a real estate developer, has signed an agreement to purchase a rental apartment building in Upper East Side and turn it into condominiums. The developer is planning to purchase 150 E. 72nd St. at Lexington Avenue for an amount of $70 million.
Macklowe is looking for joint-venture partners for a $110-million project. The development will include renovations of existing property and construction of a new penthouse on the roof. The 12-story building comprises 34 apartments. For the full story, go to New York Post.
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.