The Real Deal New York

Feil, Rockpoint pay $120M for majority stake in 57th St. office building

RCG Longview bought 200 West 57th St. in 2004 for $125M
By Rich Bockmann | April 14, 2015 11:28AM

The Feil Organization and Boston-based private equity firm Rockpoint Group paid a shade over $120 million to purchase a majority stake in RCG Longview’s 200 West 57th Street office building, property records filed with the city today show.

Prior to the sale, Feil had co-owned the 135,000-square-foot property with RCG, which is led by principals from Feil and Ramius Capital Group.

Now, Feil has teamed up with Rockpoint to buy  an 83.5 percent stake  in the property for $120.4 million, records show.

RCG purchased the building in 2004 for $125.7 million. Tenants include Trattoria Dell’arte restaurant on the ground floor and a number of medical offices above. According to Feil’s website the building is 98 percent leased.

A representative from Feil could not be immediately reached for comment. Feil is one of the oldest family-owned landlords in the city with a roughly $7 billion portfolio. There is a rift in the family, though, as company head Jeffrey Feil is being sued by his three sisters who claim they are not being adequately compensated for their stakes in the family fortune.  In November, the firm entered contract to buy 251 Park Avenue South from Extell Development, as The Real Deal reported.

Rockpoint Group is working with Highgate holdings to develop a site in the Meatpacking District. The partners struck a deal earlier this year to sell one of their properties, the Manhattan at Times Square Hotel, to Qatari investment firm Al Rayyan Tourism and Investment for $535 million, as TRD reported.