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Sale at 420 5th Ave.

Techint Inc., has purchased a commercial condominium at 420 Fifth Avenue in New York. The sale was announced by The Hammerson Group, developers of the property.

Techint Inc. will occupy most of the' 18th floor of the Fifth Avenue property. This sale increases Hammerson's 420 Fifth Avenue office occupancy to close to 70 percent and Techint will be joining several international firms who have elected to purchase a part of the property. Earlier, Hammerson announced sales to Chinese, Taiwanese and Swiss-based corporations and government agencies.

Eddy Cogan, Hammerson's senior advisor has been directing the marketing and sales program on behalf of Hammerson. Cogan, was responsible for the condominium conversion after getting a request from the Girl Scouts to purchase 170,000 square feet in theproperty. Douglas A. Edwards, Incorporated served as user representative' firm.

Techint is part of a group of companies worldwide with headquarters in Buenos Aires and Milano that reports global sales in excess of $2 billion for four main areas of activity: (A) steel production and manufacturing; (B) engineering and construction; (C) mechanical equipment; and (D) services. Techint is actively participating int he privatization and management of public services, (transportation networks, urban and environmental services, gas transmission, health services, power distribution, telecommunications) in Latin America as well as in Europe. The company was rounded in 1945 by Agostino Rocca, an innovative engineer, leading manager, entrepreneur and key force behind the development of the Italian-steel industry. Techint, being actively involved in the New York business community since 1947, will be expanding and relocating from leased office space at 708 Third Avenue.
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Title Annotation:Techint Inc. acquires commercial condominium in New York, New York
Publication:Real Estate Weekly
Date:Jan 27, 1993
Words:263
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