News
FOREIGNER; THE DEAL SHEET
June 15, 2010
| Did you know that foreign buyers account for 15% of the $4.2B in Manhattan investment sales this year? And yesterday it was announced that Mexican investment company Inmobiliaria Carso made another play, snapping up 417 Fifth Ave. for $140M. |
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| The 11-story, 412k SF building is located in the Grand Central submarket, and includes 380k SF of above-grade space, including 23.5k SF of Fifth Avenue retail. The former Cushman & Wakefield team of Richard Baxter, Jon Caplan, Yoron Cohen, and Scott Latham (now with JLL), plus current C&W execs Helen Hwang and Karen Wiedenmann repped the seller, while Venture Capital Properties' Soly Halabi represented the buyers. Overall, international investment has increased from last year—foreign buyers only accounted for 10% of the $3.5B in transactions that closed. |
