Rockefeller Group sells 1627 Broadway land lease

The Rockefeller Group has sold its land lease at 1627 Broadway to
United American Land for nearly $26 million. Tenants of the building,
at 50th Street, currently include Duane Reade and the Snapple Theater.
United American Land said it is evaluating options because the air
rights would allow about 120,000 additional square feet to be built at
the location. A spokesperson for
the Rockefeller Group said the property, which was marketed by Cushman
& Wakefield, no longer fit into the company’s long-term plans.