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NEW YORK CITY-Brack Capital Real Estate-USA purchased 27 Grand St., an 11,300-sf parcel of land located in the city’s Soho neighborhood for $33.4 million. The L-shaped site is bordered by Sixth Avenue and Thompson Street and was sold by Extell Development.

Ivan Hakimian of Izthaki Properties represented both buyer and seller in the transaction. A source close to the deal tells GlobeSt.com that Brack is not releasing its plans for the property as of yet.

Brack Capital Real Estate-USA, which owns and manages a number of developments in New York and Florida, is known for its restoration and renovation of 90 W. St., the Cass Gilbert designed landmark damaged during 9/11, according to a release. Other current Manhattan projects include the landmark Olcott at 27 W. 72 St., Element at 555 W. 59 St., 230 Riverside Dr., 240 E. 27 St., 150 E. 85 St., The Chartwell House at 1760 Second Ave.,15 Union Sq. W. and the 298-room Hilton Garden Inn located at 63 W. 35th St.

Brack Capital Real Estate-USA, part of the Brack Capital Group, is a real estate firm with global holdings. BCRE is a leading international owner, developer and manager of large-scale real estate projects and related M&A activities. Over the past 14 years, BCRE has acted as a principal in investments of over $7 billion, primarily in the US and Europe.

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