Toy Center is sold for $350m.
It took all of two months to get the International Toy Center off the market. After starting a marketing campaign last November, Wien & Malkin Properties has agreed to sell the two-building, 1.2 million s/f complex to the Chetrit brothers for more than $350 million.
The deal marks the first time the International Toy Center has been sold in the past 54 years and might signify a new era in the complex' history.
"Wien & Malkin is proud to have represented ownership and led the operation [of 200 Fifth Ave. and 1107 Broadway] for more than five decades, is appreciative of the hard work of so many who have made them such extraordinary investments and is grateful to its investors for the confidence they have shown in us since we purchased the Toy Center in 1950," said Peter L. Malkin, president of W&M Supervisory Services, in an official statement.
While it has served as a showcase for toy manufacturers for the past 50 years, the Years, The
the seven decades of Eleanor Pargiter’s life. [Br. Lit.: Benét, 1109]
See : Time International Toy Center would also be a good candidate for a residential or a hotel conversion and there is speculation that its new owners might do just that with the buildings. According to according to
1. As stated or indicated by; on the authority of: according to historians.
2. In keeping with: according to instructions.
3. published reports, the Chetrit brothers are currently in the process of converting the Windsor Park This article refers to the home ground of the Northern Irish Football Club. For other uses of Windsor Park, see Windsor Park (disambiguation).
Windsor Park is the home ground of the Northern Irish football club, Linfield FC, in Belfast. hotel into a residential condominium condominium
In modern property law, individual ownership of one dwelling unit within a multidwelling building. Unit owners have undivided ownership interest in the land and those portions of the building shared in common. .
However, the new owners' plans will remain vague for a while as they prefer to keep the details of the deal out of the press.
CB Richard Ellis' Darcy Stacom and Bill Shanahan negotiated the transaction.
Cushman & Wakefield, which manages the complex, just announced it signed leases totaling more than 100,000 square feet of showroom space at its landmark buildings at 200 Fifth Avenue and 1107 Broadway for the 2004 calendar year.
Heading the list of recent signees is Smiffy's, a Great Britain Great Britain, officially United Kingdom of Great Britain and Northern Ireland, constitutional monarchy (2005 est. pop. 60,441,000), 94,226 sq mi (244,044 sq km), on the British Isles, off W Europe. The country is often referred to simply as Britain. icon for more than 100 years and one of the largest costume, party and novelty companies in Europe.
Franco American Novelty and Morbid Industries are additional seasonal products companies new to the ITC ITC (Brit) n abbr (= Independent Television Commission) → Fernseh-Aufsichtsgremium
ITC n abbr (BRIT) (= Independent Television Commission) → . First Imperial Trading Company (FITCO) has expanded its showroom presence and longtime long·time
Having existed or persisted for a long time: a longtime friend; a longtime resident of Detroit.
Adjective tenant, Janobil, a manufacturer's representative, has renewed its lease. Terms of the leases were not announced.
In a statement prior to the ITC sale announcement, Albert Cleary, senior director for Cushman & Wakefield, said, "Smiffy's, GUND, and Bandai are all high caliber tenants that we've been able to attract or retain this year. It shows they believe that the ITC is the place to be for anyone who is in the Children's Entertainment or Seasonal Products markets." Additional brand leaders signing leases at the ITC in 2004 include Corgi corgi: see Cardigan Welsh corgi; Pembroke Welsh corgi. Classics and RoseArt Industries.