Real estate investor Billy Macklowe will buy 156 William Street, a Financial District office building, from private equity firm Capstone Equities for $62.5 million.
Capstone paid $60 million for the 12-story buliding in 2008, according to city records.
The property is the third on the block to hit the market in recent weeks, Crain’s reported. Canadian insurance giant Manulife bought 100 William Street from Japanese investment firm and landlord Mitsui Fudosan for $170 million last month, and East End Capital picked up Joe Chetrit’s 123 William Street for $133 million.
The deal for the 190,000-square-foot property is a bit of a departure from Macklowe’s recent focus on the Midtown South market, where he picked up 386 Park Avenue South last year for over $110 million. [Crain’s] — Julie Strickland