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NEW YORK, April 12 /PRNewswire/ -- Investcorp, a global investment group, today announced that it has completed an investment in two New York City office properties, Metropolitan Tower and 150 Fifth Avenue. The properties were purchased in partnership with L&L Acquisitions, LLC, a New York City based owner/ operator of Manhattan office properties.
Metropolitan Tower is an 18-story, 245,500 square foot, Class A office condominium located at 142 West 57th Street in Midtown Manhattan. The office property serves as the base of a condominium complex that includes a residential tower. The office property is 98% leased and the primary tenant is Ann Taylor Stores Corporation.
150 Fifth Avenue is an 11-story, 191,000 square foot office property located in the Midtown South submarket. 150 Fifth Avenue is currently undergoing a comprehensive renovation in conjunction with a lease with EMI Music Inc., which will occupy the majority of the property...