The Real Deal New York

Angelo Gordon closes on $510M buy of 575 Lex

Normandy Real Estate Partners bought 35-story office tower for $360M in 2012
By Rey Mashayekhi | September 17, 2015 06:00PM

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.

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.