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Sonnenblick-Goldman Co. arranges $400M in sales.

Sonnenblick-Goldman Company arranged real estate sales transactions worth an aggregate of approximately $400 million in recent months, the company announced.

The real estate involved spans the complete range of property types, said the firm, and is located in five states and one foreign country. Prices ranged from $2.5 million for a hotel in Houston to over $98 million for a mixed-use development for a Fortune 500 client.

William H. Stern, a principal of the firm, heads The Sales Group, the firm's internal unit dedicated to equity sales.

Among the firm's notable office building transactions were the sales of the 250,000-square-foot 1st Bank Tower in Tallahassee; the 285,000-square-foot Brickell Bay Office Tower in Miami; a 121,000-square-foot complex at 972 Brush Hollow Road in Westbury, New York; the 166,608-square-foot building at 535 Connecticut Avenue in Norwalk, Connecticut; 380 Madison Avenue, an 800,000-square-foot building in Manhattan; 307,860-square-foot 406 West 31st Street, also in Manhattan; and Sarasota City Center, a 260,400-square-foot. complex.

Residential property sales included the Tampa Palms residential and golf development in Tampa, which had suffered foreclosure by two major banks; the Grand Harbor residential and golf course project in Vero Beach, Florida, which had come into the possession of the RTC; the Coral Point Apartments in Miami; and condominium apartments at 422 East 72nd Street in Manhattan and at The Classic in Hartsdale, New York.

Sonnenblick also completed hotel sales, including The Mayfair in the Grove, a 186-room hotel and retail complex in Coconut Grove, Florida; a 600-room Days Inn in Houston; the 178-unit Parc 51 in Manhattan; and the 212-room Safety Harbor Spa, Safety Harbor, Florida.

The remaining sales included a land transaction involving the 22,500-acre Banning Lewis Ranch in Colorado Springs; the purchase of the 355,113-square-foot Westchester Mall in Cortlandt, New York; and, the largest deal in terms of price, the acquisition of a mixed-used development in Elancourt, France.
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Title Annotation:$400 million worth of real estate sales transactions in 1993
Publication:Real Estate Weekly
Date:Sep 1, 1993
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