Eastern nets $33.5m for prime midtown building.A 72,500 s/f class A office building, located in the heart of midtown mid·town n. A central portion of a city, between uptown and downtown. midtown Noun US & Canad the centre of a town , at 110 E. 55th St., just sold for $33.5 million to Richard Parkoff, principal of the Parkoff Ogranization. Eastern Consolidated arranged the sale of the 19-story property, whose ground floor retail tenant is Belgian Shoes. Peter Hauspurg, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Eastern Consolidated, and Deborah Gutoff and Marcia Rose Yawitz, senior directors, worked as a team on this transaction, with Marcia Rose Yawitz procuring the purchaser, Richard Parkoff. "Not only is the location of this property stellar--in the mid 50's between Park and Lexington Avenues, but it offers tenants who desire exclusivity, single floor high-end offices ranging between 3,000 and 5,000 s/f," said Yawitz. "In addition, the offices are configured con·fig·ure tr.v. con·fig·ured, con·fig·ur·ing, con·fig·ures To design, arrange, set up, or shape with a view to specific applications or uses: around the building's central corridor, thereby offering maximum light and window exposure. An added feature is that should the owner decide to convert the building to either a residential or a hospitality use, the tower floors would be ideal for these separate purposes." The sales price equates to approximately $465 per s/f. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Hauspurg, "At a time when investors are competing heavily for residential or commercial properties that are condo conversion Generally stated, a condo conversion is a process of entitling an income property or other lands currently held under one title to convert from sole ownership of the entire property (which often already is a multi unit property) into individual for sale units. candidates, this sale indicates that the appetite for well-located, luxury office product is still alive and well." David Breger David Breger (April 15, 1908 - January 16, 1970) was the American cartoonist who created the term and comic strip "G. I. Joe" during World War II. Growing up in Chicago, where he was born, Breger had encounters with the local gangsters while he was working in his father's , Esq., of Breger and Breger, acted for the purchaser in the sale. |
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