NEW YORK CITY-Spear Street Capital of San Francisco is in contract to acquire 315 Park Ave. for a reported purchase price of less than $250 million.
The 340,000-square-foot, 20-story office building is being sold by Bijon Nassi and his son, Craig, of BCN Development, who acquired the property six years ago for $265 million, according to the New York Post.
Credit Suisse is one of the major tenants at 275,000 square feet, although a little more than 100,000 square feet of its space is on the market for sublease.
The deal would be Spear Street's first office holding in New York City. The firm currently owns the Crossroads Business Center in Bedminster, NJ, and Metro 101 in Iselin, NJ. See story in the New York Post.
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