New York City Buildings sold
Boston Properties has agreed to buy Harry Macklowe's embattled office tower at 510 Madison Avenue for around $280.5 million. The 350,000-square-foot property had been the subject of a legal fight between Macklowe, SL Green and a junior mezzanine lender, before Boston Properties acquired the loan for $22.5 million.The former Park Avenue townhouse of abstract painter Judith Rothschild sold for $8.75 million, almost half of the $15 million price it got in 2007. Nearly a year ago, the 25-foot-wide house at 1110 Park Avenue between 89th and 90th streets, hit the market as a rental, for $18,000 a month. After failing to find a tenant, it went into foreclosure. The new owner put it on the market with an asking price of $9.45 million, close to what it sold for.
Waterman Interests acquired 400 Park Avenue RFR Holding. Waterman Interests formed a joint venture in 2007 with J.P. Morgan Asset Management to acquire commercial real estate assets. The building, a 21-story office and retail building at 54th Street in the prestigious Plaza District, is 70 percent leased.
