NEW YORK CITY-Real estate investor Joseph Sitt is purchasing the leasehold for the 545 Madison Ave. office building and the retail condominium at the Milford hotel on Eighth Avenue.
Sitt is expected to purchase 545 Madison Ave.'s leasehold for $60 million, according to Crain's New York Business. The purchase price for the retail space at the Milford was undisclosed.
The busy real estate investor is buying the leasehold at 545 Madison from a partnership between BlackRock, Lehman Brothers and LCOR. The retail deal at the Milford is with Milford Hotel ownership that includes Highgate Holdings, Crown Acquisitions and the Rockpoint Group. See story in Crain's New York Business.
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