88 Leonard Street|Sales|08/22/2011 | TRD Research
Deal sheet    Single Deal
88 Leonard Street|Sales|08/22/2011
  • Event Sales
  • Address 88 Leonard Street
  • Price $ 37,000,000
  • Borough Manhattan
  • Neighborhood Tribeca
  • Publication Date 10/01/2011
notes
A 49 percent stake in the rental building closed for $37 million. The transfer of Africa Israel USA's remaining stake, the senior mortgage and the mezzanine loan is expected to close in the first half of 2012. The prices for those components were $17 million, $132 million and $24 million, respectively, according to a previous report by Bloomberg News, for a total cost of about $210 million. The deal is being closed in two stages for accounting purposes, according to David Schwartz, Waterton Associates' co-founder.