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NEW YORK CITY-Richard Parkoff, principal of the Parkoff Organization, has acquired a 72,500-sf class A Midtown asset. He picked up the 19-story 110 East 55th St. for $33.5 million, or approximately $465 per sf.

Eastern Consolidated arranged the sale. Peter Hauspurg, CEO of Eastern Consolidated, together with Deborah Gutoff, senior director, acted for the institutional seller, while Marcia Rose Yawitz, senior director, procured the purchaser. David Breger Esq of Breger and Breger acted for the buyer.

“Not only is the location of this property stellar–in the mid-50′s between Park and Lexington Avenues,” Yawitz says, “but it offers tenants who desire exclusivity, single-floor, high-end offices ranging between 3,000 and 5,000 sf In addition, the offices are configured around the building’s central corridor, thereby offering maximum light and window exposure.” She adds that “should the owner decide to convert the building to either a residential or a hospitality use, the tower floors would be ideal for these separate purposes.” Hauspurg points out that at a time when investors are competing heavily for residential or commercial properties that are condo conversion candidates, this sale indicates that the appetite for “well-located, luxury office product is still alive and well.”

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