Full-service commercial real estate firm Jones Lang LaSalle was tapped
to take over the management and leasing of the former Macklowe
Properties Midtown building 1330 Avenue of the Americas, Jones Lang
LaSalle told The Real Deal. Macklowe had been the owner and manager of the 40-story property before
losing it in a mezzanine foreclosure auction April 22 to the senior
mezzanine lender, Otera Capital, a division of a Canadian pension fund. Macklowe bought the property, which spans the block between 53rd and 54th
streets, in 2006 for $498 million. Otera picked it up for $240.1
million, through the assumption of a $240 million first mortgage and a
$100,000 bid for the mezzanine note. Jones Lang was picked by CWCapital Asset Management, on behalf of
Otera, to lease and manage the 525,000-square-foot building which has
140,000 square feet available for lease, the management company said in
a statement…. [more]