Friday, March 30, 2007

230 Park Sale [Finally] Hits the Papers

As I hinted in my first post and as I broke exclusively in this post, the "Crown Jewel of Park Avenue", 230 Park (The Helmsley Building), has been sold to Monday and Goldman for $1.15 billion.

True to the current NY trend, the price represents a 3.1% cap rate on the current NOI of $36 million.

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