Representative Transactions

CitySpire Center
The 337,000-square-foot CitySpire Center commercial condominium at 156 West 56th Street was acquired for $30.1 million. At acquisition, the building was 67% occupied with net operating income of $2.7 million. An aggressive proactive leasing and capital improvement program was successfully implemented, bringing occupancy to 96% and net operating income to $7.5 million. Two years after acquiring CitySpire, the property was sold for $84.5 million.