The property asset involved in this transaction is an 18-story office building located at 300 East 42nd Street in the Midtown East market. The sale price for the building is $52 million, which reflects a significant reduction from the $122.5 million that was previously paid in 2019.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $52,000,000
• Buyer: David Werner - David Werner Real Estate Investments
• Seller: Drew McKnight, Joshua Pack & Jack Neumark - Fortress Investment Group
• Broker: David Giancola, Drew Isaacson & Jennifer Zelko - JLL

This transaction highlights the involvement of David Werner Real Estate Investments, which is acquiring the property from Fortress Investment Group. David Werner's strategy includes an ongoing focus on office-to-residential conversions, although the specific plans for this building have not been disclosed.