Moinian to buy 475 Fifth Ave. for $160m.Developer Joe Moinian is in contract to buy 475 Fifth Avenue from the Corporate Realty Income Fund for $160 million dollars. A Moinian spokesman said due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. is underway and the deal is expected to close early February 2007. Scott Latham, executive director of Cushman & Wakefield 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--who sold the property to the Fund 13 years ago when it was owned by MetLife--represented the seller again in this transaction. He said the Fund had reached the end of its lifespan and, with New York City's current red hot status, now was viewed as the perfect time to reap the greatest profits, recalling, "When they bought it, it was for a lot less." "Moinian will probably release the property and do some redevelopment in order to put their own mark on the property and raise its value," added Latham, who was one of the four Cushman & Wakefield executive directors working on this project including Richard Baxter This article is about the clergyman. For the jurist, see Richard Baxter (jurist).) Richard Baxter (November 12, 1615 - December 8, 1691) was an English Puritan church leader, theologian and controversialist, called by Dean Stanley "the chief of English Protestant Schoolmen". , Ron Cohen cohen or kohen (Hebrew: “priest”) Jewish priest descended from Zadok (a descendant of Aaron), priest at the First Temple of Jerusalem. The biblical priesthood was hereditary and male. , and Jon Caplan. The 23-story tower was built in 1925 has 234,000 s/f of office space and 19,150 s/f of retail space on the first floor and in the basement. The building is currently at 72% occupancy with 74% of the office space occupied by tenants such as Flack & Kurtz Consulting Engineer and Enterprise Asset Management. Asking rents for office space in the building range from $49-52 psf. Retail tenants include Cingular Wireless and Sean John Sean John is a clothing line founded by hip-hop mogul Sean Combs A.K.A Diddy,in 1998. The name is taken from Combs' first and middle given names. People representing the brand include Combs himself, rappers T.I. , but more than half of the retail space is currently available for lease. 475, also known as the Wedding Cake Tower due to its layered architecture, is located on the corner of 41st Street and Fifth Avenue, across the street from the New York Public Library New York Public Library, free library supported by private endowments and gifts and by the city and state of New York. It is the one of largest libraries in the world. . |
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