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Normandy Real Estate Partners buys Sitt’s 1370 Broadway 

Normandy Real Estate Partners has gone into contract to purchase a 275,000-square-foot, 16-story office building at 1370 Broadway and 37th Street for $125 million, according to the New York Post. Sources said the building was snapped up by the company just before Thanksgiving.

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As The Real Deal previously reported, the seller, Sitt Asset Management, had been soliciting bids for the building in October. CoStar Group data shows the property has about 22 percent of its space available to lease. Large tenants there include apparel retailer Esprit and executive office firm Jay Suites.

Sitt bought the building in December 2003 from SL Green for $57.18 million and had chosen Douglas Harmon, Adam Spies and Kevin Donner of Eastdil Secured to market the property. [Post]

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Adam SpiesCostar GroupDoug HarmonEastdil SecuredNormandy Real Estate PartnersSitt Asset Management