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New York

Tishman Speyer closes on sale of LIC’s Two Gotham Center

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Clockwise from top left: Tishman Speyer Chairman and co-CEO Jerry Speyer, Darcy Stacom, vice chairman of CBRE, Two Gotham Center, Paul Gillen, senior vice president of CBRE, and Bill Shanahan, vice chairman of CBRE

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Tishman Speyer, in partnership with Square Mile Capital and the Modell family, has completed the $415.5 million sale of the 670,000-square-foot Two Gotham Center in Long Island City to H&R, a Canadian Real Estate Investment Trust listed on the Toronto Stock Exchange, CBRE Group, which represented Tishman in the deal, announced yesterday.

“This groundbreaking deal underscores the continued transformation of Long Island City into a premier destination for high-end office users… [and] an attractive, high-end alternative to Midtown ” said Bill Shanahan, vice chairman of CBRE, who worked on the deal with Darcy Stacom, also a vice chairman, and Paul Gillen, a senior vice president at the commercial brokerage. — Katherine Clarke

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Bill ShanahanCBREDarcy StacomSquare Mile Capital ManagementTishman Speyer