Real estate in brief

Touro College building hits the market ... and more

New York /
Feb.February 18, 2010 11:00 AM
160 Lexington Avenue and Howard Kessler of Newmark Knight Frank

Touro College building hits the market
The building that once housed Touro College at 160 Lexington Avenue on the corner of 30th Street is up for sale or net lease, according to Newmark Knight Frank, which has the listing. The 21,700-square-foot building doesn’t have an asking price, said a Newmark spokesperson, who added that the seller is fielding bids from potential buyers. Howard Kessler, an executive managing director with Newmark, told The Real Deal
that while the building hasn’t received any formal offers yet,
interested buyers have been submitting bids “north [of the] $700 per square
foot,” range. The century-old building saw a total renovation in 1987, and would be best suited “as a single-user building,” according to a statement from Newmark. Reports indicate that Eastern Consolidated had previously had the listing, for two years, beginning in 2007. Update: a call to Newmark revealed that the Eastern Consolidated sign is old and that it plans to remove the sign as soon as possible.

Manhattan DA announces expanded economic crimes wing
The Manhattan District Attorney’s office has launched a new initiative to combat financial crimes, with the formation of the Major Economic Crimes Bureau, according to a statement by the DA’s office. The new investigative department will be formed by the conflation of the Frauds Bureau and the Investigation Division Central, and will target mortgage fraud, among other financial crimes. Richard Weber, the current head of Asset Forfeiture and Money Laundering at the U.S. Department of Justice, will act as chief of the new department.
 
DEP renews lease at 1250 Broadway
The New York City Department of Environmental Protection will be staying put, according to Murray Hill Properties, after renewing its lease for 20,088 square feet at Murray Hill Properties’ 1250 Broadway on the corner of 32nd Street. Landlord Eric Levy, a managing director with Murray Hill Properties, said in a statement that he was “delighted to have been able to extend [the city’s] lease.” TRD


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