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JMC lands $51M to buy NY REIT’s Lenox Hill office building
JMC paid $47 million for 306 East 61st Street, one of the real estate investment trust’s last remaining properties. As part of the deal, JMC paid off a $19 million mortgage — meaning that New York REIT received net proceeds of $26.5 million for the ...
Kathryn Brenzel |
March 01, 2018 11:50AM
306 East 61st Street, Matt Cassin and Craig Solomon
JMC Holdings scored $51 million to buy New York REIT’s office property in Lenox Hill, known as the Interior Design Building.
Square Mile Capital Management provided the financing for the deal, the firm announced on ThursdayJMC paid $47 million for 306 East 61st Street, one of the real estate investment trust’s last remaining propertiesAs part of the deal, JMC paid off a $19 million mortgage — meaning that New York REIT received net proceeds of $26.5 million for the property, the REIT announced last week.
Representatives for JMC didn’t immediately return a call seeking comment.
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