From the September issue: Peter Duncan, the president of George Comfort & Sons, would
probably not be faulted by many in the real estate community for
whooping it up with a big “I told you so” to all those who predicted he
would never seal the deal on the purchase of Worldwide Plaza.
But
unlike many of his contemporaries, Duncan refuses to take a victory lap
to celebrate the deal, or boast about his prowess in timing the market.
“It’s like any acquisition. Buyer’s remorse kicked in immediately,” Duncan told The Real Deal, in a half-joking sort of way.
His
Madison Avenue-based firm, which previously owned more than 7 million
square feet of office space, had until recently been a rather
low-profile operation in New York.
But after nearly 10 months of
intense negotiations, the firm pulled off a rather stunning feat in
late July, leading an investment group that included RCG Longview, the
Feil Organization and DRA Advisors into the biggest real estate deal
since the collapse of Lehman Brothers. The group paid $590 million for
the last of the commercial buildings from Harry Macklowe’s distressed
portfolio.
