Kushner and CIM pay $140M for 2 Rector Street
A partnership between the Kushner Companies and CIM Group has paid $140 million to Stellar Management’s Laurence Gluck and Savanna Real Estate Fund for a Lower Manhattan office tower at 2 Rector Street, the New York Post reported.
Located on the southeastern side of the World Trade Center between Trinity and Greenwich Streets, the 465,000-square-foot, 26-story tower sold for $300 per square foot.
Jones Lang LaSalle’s Ron Cohen,Richard Baxter, Scott Latham and Jon Caplan represented the sellers, while the buyers were represented by CIA Group’s Ray Cecora.
A source told the Post that given the impending opening of the World Trade Center and a push by New Yorkers to live and work Downtown, the tower is in “the path of growth.” [NYP, 3rd item] – Hiten Samtani