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NEW YORK CITY-William Macklowe Co. has teamed up with Principal Real Estate Investors LLC to purchase 386 Park Avenue South, a 270,000-square-foot Art Deco office building located at the northwest corner of 27th Street in Midtown South district. According to the New York Post, the 20-story property was acquired from a joint venture comprised of Savanna Investment Management LLC and Monday Properties for between $110 and $113 million.

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