L&L Infinite, Mack Real Estate Group, And BLDG & BD Blakely Acquire Manhattan Office For $245M

The property asset involved in the transaction is an office space located at 600 Third Avenue in Manhattan. The asset has a size of 575,254 square feet and was sold for a transaction amount of $245,000,000, resulting in a price per square foot of $425.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $245,000,000
• Address: 600 Third Avenue
• Market: Manhattan
• Square Footage: 575,254
• Price per Square Foot: $425
• Buyer: L&L Infinite, Mack Real Estate Group, BLDG & BD Blakely
• Seller: L&L Holding Company & Institutional Investor
• Broker Representatives: Adam Spies, Joshua King & Kenneth Zakin - Newmark

The deal involved key individuals including Marty Burger, David Levinson, Richard Mack, Mark Gormley, Adam Spies, Scott Chisholm, and Joshua King. Notably, IGCP arranged the debt financing for the transaction, and the Newmark team, led by Adam Spies and Joshua King, represented the seller while also assisting with the debt. Kenneth Zakin, also from Newmark, provided assistance on the equity aspect of the deal.