Thank you for sharing!

Your article was successfully shared with the contacts you provided.

NEW YORK CITY-Princeton Holdings LLC has sold its stake in the 14-building F.M. Ring office portfolio, located mainly in Midtown South, for $74 million. A release announcing the sale identifies the buyer as “a major New York City real estate development and investment firm that will significantly boost its existing stake in the portfolio as a result of this transaction.” Additional financial details were not disclosed.

The Wall Street Journal and Crain’s New York Business have both reported that the buyer was Extell Development, and that the total value of the one-million-square-foot portfolio, including 212 Fifth Ave. and 251 Park Ave. South, has been estimated at more than $500 million. GlobeSt.com’s calls to Extell for comment were not returned by deadline early Thursday afternoon.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.