search

The Real Deal Logo

Trending

Rent board’s 4% hike will “plunge” buildings into distress: landlordsRent board’s 4% hike will “plunge” buildings into distress: landlordsH-E-B snags 21 acres in Celina, hinting at development boomH-E-B snags 21 acres in Celina, hinting at development boomSL Green, Vornado kick in $100M to extend 280 Park loanSL Green, Vornado kick in $100M to extend 280 Park loanVictor Sigoura picks up site of failed West Chelsea condo for $87MVictor Sigoura picks up site of failed West Chelsea condo for $87M
New York

Angelo Gordon closes on $510M buy of 575 Lex

Normandy Real Estate Partners bought 35-story office tower for $360M in 2012

From left: Finn Wentworth, 575 Lexington Avenue in Midtown and Adam Schwartz
From left: Finn Wentworth, 575 Lexington Avenue in Midtown and Adam Schwartz

Angelo, Gordon & Co. closed on its $510 million acquisition of 575 Lexington Avenue in Midtown from Normandy Real Estate Partners.

The Midtown-based investment firm completed its purchase of the 35-story, 739,000-square-foot office building on Aug. 27, according to property records filed with the city Wednesday.

Sign Up for the undefined Newsletter

New Jersey-based Normandy bought the property for $360 million in 2012, acquiring it from a partnership between Silverstein Properties and the California State Teachers Retirement System.

Normandy announced that it was marketing the office tower for sale earlier this year, with the company reportedly seeking more than $400 million for the building.

Tags
Angelo GordonNormandy Real Estate Partners