Major Office Building Investment Acquisitions in Manhattan


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Dubai Investors acquire major New York trophy Office Buildings & Hotel

Istithmar, a major investment house based in the United Arab Emirates sets records for Manhattan real estate purchases. The Dubai-based Investment company has invested over $3 billion into six trophy properties.
www.istithmar.ae

2005 and 2006 Istithmar acquisitions included:

- 230 Park Avenue (Helmsley Building): $705 mil

- 280 Park Avenue: $1.2 billion

- 450 Lexington Avenue: 600 million

- 1466 Broadway: $300 million

- Mandarin Oriental: n/a

- W Union Square: 285 million

230 Park Avenue, NYC

230 Park Avenue (Helmsley Building)  is a universally renowned landmark building in Manhattan. Rising above Park Avenue with timeless architectural design, the Property's exceptional visibility makes it one of the City's finest commercial destinations. The building offers approximately1.2 million square feet of Class "A" office space and is currently occupied by an impressive roster of tenants.
Property Type: Class "A" Commercial
Location: United States
Purchase Price: USD 705,000,000
Transaction Date: Nov 2005
Square Ftge: 1.2 million

 

6 Times Square - Knickerbocker, NYC

In June 2006, The 6 Times square, NY, USA, was acquired by Istithmar with a plan to convert it into a 5-star hotel.
Property Type: Class "A" Commercial
Location: United States
Purchase Price: USD 300,000,000
Transaction Date: Jun 2006
Square Ftge: 250,000

 

280 Park Avenue, NYC

A landmark office building in Midtown Manhattan, NY, USA. Currently at 100% occupation.
Property Type: Class "A" Commercial
Location: United States
Purchase Price: USD 1,200,000,000
Transaction Date: Jun 2006
Square Ftge: 1.2 million

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