News
FED BANK GRABS 33 MAIDEN FOR $208M
February 29, 2012
| The Federal Reserve Bank of New York has snapped up 33 Maiden Lane from Hannover Leasing and a German closed-end fund managed by Invesco for $208M. (Wonder where it got the money? We bet you can’t walk more than three steps without touching some.) |
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| The CBRE power team of Darcy Stacom, Bill Shanahan, and Paul Gillen marketed the property, which attracted strong attention, but ultimately went to the bank, which exercised an existing right to buy the building. (It currently occupies 75% of the 600k SF building, which is across the street from its HQ.) The seller originally acquired the building upon forming the closed-end fund in 2002 and chose to monetize the property (the financial equivalent of a superpower) as the fund nears the end of its investment life. |
