NEW YORK CITY-TIAA-CREF, a retirement system, has purchased the Corner, a rental-apartment tower consisting of 196 units on 72nd St. and Broadway. The venture of Rhodes Associates and Philips International has sold the property for $209 million or about $1,400 per square foot.
The venture will retain the retail space measuring 48,000 square feet in the property. Darcy Stacom with CB Richard Ellis negotiated the deal on behalf of the seller. For the full story, go to Wall Street Journal.
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