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29 John Street sold.

Eastern Consolidated Properties, Inc. exclusively represented McDonnell Douglas Finance Corporation in the sale of 29 John Street to the Collegiate Reformed Dutch Church. Scott Latham, vice president, @ who represented the seller, said that interest for this 16 - story, 61,000-square-foot office building, located in the heart of the Nassau Street pedestrian mall, was "overwhelming."

29 John Street has several retail stores situated.on the corner of Nassau Street and John Street in the heart of the Nassau Street Mall. The property is 60 percent tenanted, offering, a smaller alternative for companies that need to be close to City Hall and the courts.

The church, which owns millions of square feet in the immediate area, outbid the competition establishing a new bench mark of $43 per square foot for a downtown Manhattan office building. Chaim Katzap of CB Commercial advised the church in this transaction which was contracted and closed in less than 30 days and was sold on an all cash basis.
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Title Annotation:Collegiate Reformed Dutch Church purchases office building in New York, New York
Publication:Real Estate Weekly
Date:Dec 9, 1992
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