NEW YORK CITY-The Carlyle Group, Highgate Holdings and Crown Acquisition have bought the old office property at 170 Broadway for $55 million. The office building, situated beside the World Trade Center, was sold by Troy Baydala from AMG Realty.
M&T Bank provided a $35-million loan for the deal. The new owners are planning to redevelop the property into a hotel along with retail space. AMG Realty's Baydala purchased the property in 1998 for roughly $6.4 million from a Greek family. For the full story, go to New York Post .
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