NEW YORK CITY—Surprising other potential bidders, real estateinvestor David Werner has signed a contract to buy the Mobilbuilding on East 42nd street for more than $900 million, accordingto the Wall Street Journal.
The notoriously tight-lipped Werner was represented in the dealby Doug Harmon, senior managing director, Eastdil Secured, who didnot respond to a request for comment. The seller, notes theJournal, technically was Hiro Real Estate LLC, a unit of aJapanese company, but Goldman Sachs Group was key to the dealbecause it reportedly holds the debt on the building. Theinvestment bank declined to comment.
Another element of the deal is the fact that the building istechnically a lease hold. The land is owned by the Goelet family,which reportedly has agreed to extend the ground lease for another99 years. It previously was scheduled to expire in 2028.
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Rayna Katz
Rayna Katz is a seasoned business journalist whose extensive experience includes coverage of the lodging sector, travel and the culinary space. She was most recently content director for a business-to-business publisher, overseeing four publications. While at Meeting News, a travel trade publication, she received a Best Reporting award for a story on meeting cancellations in New Orleans during Hurricane Katrina.
