The Republic of Tanzania has purchased the Timekeeper Building, a six-story office property at 307 East 53rd Street near the United Nations, for $24.5 million, according to public records filed with the city today.

The 40,000-square-foot, six-story building, between First and Second avenues, was put on the market by Philadelphia-based real estate investment firm Amerimar Enterprises in September 2010. Robert Garrish, Paul Gillen and Darcy Stacom of CB Richard Ellis were hired to market the property.

Amerimar purchased the property from a company named Mittman Associates for $15.45 million in 2005.  [more]

The Timekeeper Building, a six-story office building at 307 East 53rd Street, is now on the market, and will likely sell for just over $20 million, sources sold the Post. The 40,000-square-foot East Side building, between First and Second avenues near the United Nations could be purchased by a foreign country. A price of $20 million would be a discount compared to recent sales in the area to foreign governments whose costs will trend over $900 a foot. Office tenants at the building include current owner Amerimar Enterprises, Bombo Sports and Entertainment, wine distributor Frederick Wildman & Sons and the Caudalie Vinotherapy Spa’s offices. Robert Garrish, Paul Gillen and Darcy Stacom of CB Richard Ellis are marketing the property. [Post, 3rd Avenue]

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While commercial real estate experts predict a rise in distressed securitized loans for New York City over the next year, new data shows the number of assets added to the tally last month actually fell. The quantity of loans transferred to special servicers dropped sharply last month, and those placed on servicer watchlists declined slightly, new data provided by financial tracking firm Trepp to The Real Deal shows. Only three New York City loans were transferred to a special servicer in September, down from 13 the month before, the figures indicate. At the same time, the volume of assets placed on a servicer’s watchlist fell slightly to 40 from 50 the month before. [more]