The asset consists of two connected office buildings with atotal of approximately 625,000 sf of rentable space. The propertywas built in 1909 as the American Woolen Co.'s output from its NewEngland-based mills. 225 Park Avenue South consists of 19 floorsand roughly 474,000 sf; 233 Park Avenue South consists of 12 floorsand roughly 150,000 sf.

Orda Management Corp. has owned and managed the property formore than 50 years. It recently completed an approximately$40-million renovation and re-tenanting at the property. Thebuildings currently serve as the headquarters for the PortAuthority of New York and New Jersey, Institutional Investor andInternational Masters Publishing. In addition, street-level retailincludes Chase Manhattan Bank, and two restaurants, Angelo &Maxies and Park Avalon with a third, Ruby Foo's, to be openedsoon.

The buildings were also renovated and modernized in the1980s--converting them from their former warehouse use to officeand classroom space. They served as the main campus for BaruchCollege for the next 20 years.