NEW YORK CITY-TIAA-CREF has acquired 1511 Third Ave. from Related Companies for $60 million, according to a report in the Commercial Observer.
Sources told the newspaper that the asset management firm's latest NYC asset is a four-story 60,000-sf landmarked building. The property is fully leased to the Gap, which occupies the ground floor and basement and fitness club Equinox, which has space on the three upper floors and a portion of the basement.
Robert Knakal, chairman of Massey Knakal Realty Services, confirmed to the newspaper that he brokered the deal, but declined any further comment. See story in the Commercial Observer.
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