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Carlyle Group (CG) has agreed to sell a 27-story office and retail building on Madison Avenue...

Carlyle Group (CG) has agreed to sell a 27-story office and retail building on Madison Avenue near Central Park for $1.3B, the highest amount paid of a commercial property in Manhattan in over two years. Carlyle bought the tower in 2008 for a reported $680M, although it's not clear what the private-equity firm's profit on the building is, as it invested additional money in the property. The buyer is a venture of Crown Acquisitions and Highgate.
Comments (4)
  • BruceInKY
    , contributor
    Comments (407) | Send Message
     
    So is this the type of profit-taking that the monthly MBS purchases are stimulating? Any politicians have money at Carlyle or Crown/Highgate?
    2 Jun 2013, 10:10 AM Reply Like
  • june1234
    , contributor
    Comments (2510) | Send Message
     
    http://goo.gl/d9diZ
    30% of single family dwellings in NYC are seriously delinquent, a staggering 35% in Long Island while a Manhattan building sold for $1.3 B .Maybe the Fed will double down on the MBS purchases.
    2 Jun 2013, 11:04 AM Reply Like
  • Mike Maher
    , contributor
    Comments (2485) | Send Message
     
    New York as a whole has been very slow to start working though the foreclosure process. It hasnt hurt prices in the City, but I'm not sure how long they can hold back the flood of properties that need to come to market.
    2 Jun 2013, 02:35 PM Reply Like
  • ajap
    , contributor
    Comments (4) | Send Message
     
    CALPERS is cashing out of Carlyle.
    Carlyle just selling assets to pay them.
    8 Jun 2013, 08:13 PM Reply Like
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