75 Clinton Street in Brooklyn (credit: Brownstoner)

The apartment building at 75 Clinton Street, in Brooklyn Heights, between Montague and Remsen streets, was bought for $50.8 million, Brownstoner reported.

The purchase, by Dallas-based Invesco and first reported by Crain’s in January, just hit public records. Invesco has opted turn the 74-unit condominium building into rentals, which will go for between $2,800 and $7,000 a month, as previously reported. And they are making the transition swiftly; the rentals should come to market this month.  [more]

From left: CBRE vice chairmen Darcy Stacom (top) and Bill Shanahan, 33 Maiden Lane and Federal Reserve Bank of New York Chairman Lee Bollinger

The Federal Reserve Bank of New York exercised its right to buy the downtown office building it occupies for $207.5 million, according to CBRE Group, which marketed the building. The 27-stoy 600,000-square-foot property at 33 Maiden Lane, between Nassau and William streets, was put on the market by Atlanta-based Invesco and Hannover Leasing in October.

While the Fed’s occupancy of three-quarters of the building lent it stability, the lease also mitigated the building’s upside, according to published reports, because it was signed in 1986 and guarantees a below-market rate through 2023. [more]

From left: 230 Park Avenue and Steven Soutendijk, senior director at Cushman & Wakefield

A large ground-floor and mezzanine retail space at 230 Park Avenue, the building just to the north of Grand Central Terminal, is available for rent.

The prime 10,000 square feet of real estate is now being marketed as restaurant space, the marketing materials for the space from Monday Properties, the building operator, said. Previously, the southwest corner of the massive tower was the Jean-Claude Biguine salon, which closed in September. That space has now been combined with three others, which had been a Sushi Express, a Fedex and a Scottrade, to create the resultant block of 10,000 available square feet, according to the marketing materials. While Monday Properties intended to combine the spaces, the tenants “agreeably vacated,” and weren’t kicked out, a source said. [more]

Clockwise from top left: ANM Group President Moses Gross, 100 Luquer Street and David Behin, principal of MNSANM Group has pulled its Carroll Gardens condominium from the sales market in hopes of selling it to an investor seeking to capitalize on Brooklyn’s booming rental market, according to the Wall Street Journal.

The Karl Fischer-designed 11-story, 20-unit building took years to build thanks to financial difficulty and community opposition that ultimately forced a reduction in height. The homes finally hit the market with MNS brokerage in October, with asking prices starting at $599,000. This week the listings were pulled. [more]

Atlanta-based investment fund Invesco has put the office tower at 33 Maiden Lane on the sales market, Crain’s reported, but thanks to a unique tenant the building’s sales price will likely be compromised.

Three-fourths of the 625,000-square-foot tower is leased by the ultra-credit-worthy Federal Reserve Bank of New York. But the bank rented the space in 1986 in an agreement that runs through 2023, guaranteeing it will be paying below market rate for another dozen years.
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Bank of America is getting slapped with another lawsuit by Dallas County, that if successful could be a harbinger for many similar suits to come, Bloomberg News reported. Meanwhile, according to Reuters, the bank — the largest in America — is selling off $880 million of U.S. real estate assets to a group of investors comprised of Square Mile Capital Management, Invesco and Canyon Capital Realty Advisors.

The lawsuit names BofA and MERS, an electronic system for processing mortgages that acts as the lender’s nominee and becomes the mortgagee, provided that the loan was originated by one of the financial institutions that owns MERS. Those include Citigroup, JPMorgan Chase, the Mortgage Bankers Association, American Land Title Association, Freddie Mac and Fannie Mae. [more]

Having secured its long-anticipated lease at Grand Central Terminal, tech retailer Apple has been busy picking up leases for more office space in the city.

According to the New York Post, Apple has inked a 45,000-square-foot deal at the Kaufman Organizations’s 100-104 Fifth Avenue in the Flatiron District to accommodate its iAd mobile advertising division.

Apple moved into the space on a short-term lease for only 10,000 square feet in January, but always planned to extend it for a longer time, as the division’s head count grows from 20 to 60.

Apple also signed leases for the 14th floor, which includes 16,079 square feet, and a large part of the 15th floor, the Post said. The asking rent was $55 a square foot. [more]

Monday Properties has completed a $750 million recapitalization of the former Helmsley Building at 230 Park Avenue through Invesco, the company announced today. Monday Properties has managed the property since 1998, and in 2007 purchased the 34-story, 1.4 million-square-foot, landmarked office building for $1.15 billion, public records show. This transaction completes the repositioning of the building. It also marks the largest single-asset investment in Invesco’s $39.7 billion real estate investment portfolio. Invesco last appeared on the Manhattan real estate scene in April when it completed its $125 million purchase of the 166-unit apartment building at 290 Third Avenue. TRD [more]

Invesco closed on the purchase of the Elektra, a 32-story, 166-unit apartment building at 290 Third Avenue near 23rd Street with 5,200 square feet of ground-floor retail space, the company announced today. In March, The Real Deal reported that Invesco and its operating partner, Adellco, were in contract to buy the building for $125 million from a partnership comprised of JPMorgan and Adellco. The closing price was undisclosed. Sources told The Real Deal that the deal was closed largely between Invesco and Adellco, without much assistance from Holliday Fenoglio Fowler, the brokerage that marketed the property. TRD Comments

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Atlanta-based global investment firm Invesco and its operating partner, Adellco, signed a contract to buy Gramercy Park residential building the Elektra for $125 million, two industry sources said.

Invesco and Adellco agreed in January to buy the 32-story high-rise from a partnership that also includes Adellco and is led by a J.P. Morgan Investment Management fund, the sources said. J.P. Morgan bought the building in 2006 for $92.5 million. This past December, investment sales firm Holliday Fenoglio Fowler began marketing the 166-unit building located at 290 Third Avenue, between 22nd and 23rd streets, which it said was 97 percent occupied, an article from commercial trade publication Real Estate Alert said. [more]