Built in 1970, the 17-story building has 269 rental units and is99% occupied. It features 24-hour doorman service, a health cluband outdoor pool.
"Besides the location and strong occupancy, we see upsidepotential through renovating the property," says Paul Mucci,principal and head of Lend Lease's metro NY acquisitions group.
Altogether, Lend Lease completed $12.7 billion in transactionslast year, including $4.1 billion in equity acquisitions, $2.2billion in mortgages, $2.2 billion in dispositions and $1.4 billionin financings.
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