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Real Estate Briefing - Categorized | Finance, Private Equity more

Bargain price comes with challenges

Posted on 13 December 2010

From WSJ: A private-equity firm that has been focusing on distressed and unusual New York properties bought a Manhattan office building for $135 million in a sign that there are still bargains in the city’s commercial real estate market for investors who are bullish on the city’s future.
The price Savanna paid for the 513,000-square-foot property at 1375 Broadway came to $263 a square foot. That’s one of the lowest prices paid this year for a New York office building……………………………………….Full Article: Source


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