Deal sheet    Single Deal
885 Third Avenue|Financing|07/23/2007
  • Event Financing
  • Building Name Lipstick Building
  • Address 885 Third Avenue
  • Square feet 587,000
  • Price $ 210,000,000
  • Borough Manhattan
  • Neighborhood Midtown East
  • Publication Date 09/01/2007
  • Deal Date 07/23/2007
  • Party 1 Metropolitan Real Estate Investors
  • Party 1 Brokerage The Carlton Group
notes
A $587 million financing was arranged for the acquisition of the office property. This was made possible by the sale of the building's fee simple interest to a REIT for $317 million and the arrangement of a 10-year fixed-rate leasehold mortgage for $210 million. 34-story office building.
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