Moinian closes on $250m purchase of 417 Fifth Ave.The Moinian Group has acquired another Midtown mid·town n. A central portion of a city, between uptown and downtown. midtown Noun US & Canad the centre of a town Manhattan gem gem, ornamental mineral or organic substance gem, commonly, a mineral or organic substance, cut and polished and used as an ornament. Gems also are used as seals (items of assurance) and as talismans (good-luck charms). For birthstones, see month. with the purchase of the 11story, 412,000 s/foffice property at 417 Fifth Avenue. Joseph Moinian, 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 The Moinian Group, made the announcement. Cushman & Wakefield's New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of Capital Markets Group represented the sellers, Murray Hill Murray Hill may refer to one of the following places:
"We believe that 417 Fifth Avenue is a great investment, as we continue to feel confident in the Lower Fifth Avenue/Grand Central market that continues to be booming with first class retail and top tier office tenants," said Moinian. Major tenants of 417 Fifth Avenue, which features 50,000 s/f of prime retail space, include Turner Broadcasting, Atari and CIBC CIBC Canadian Imperial Bank of Commerce CIBC Centres Interinstitutionnels de Bilan de Compétences CIBC Commonwealth Institute of Biological Control (Trinidad) CIBC Commercial International Brokerage Company . The property is 93% leased with only two immediate office availabilities of approximately 9,000 and 1,000 square feet. There are two prime corner retail availabilities of approximately 4,000 and 5,000 square feet, as well as 12,000 s/f on the basement level directly below. This acquisition strengthens Moinian's position as one of the leading office property owners on Fifth Avenue in the Grand Central area. The Group also owns the three buildings comprising the former Zeus Portfolio at 535-545 Fifth Avenue and 509 Fifth Avenue, in addition to 530 Fifth Avenue, 475 Fifth Avenue and 245 Fifth Avenue. |
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