Midtown Equities Drops $175M On Manhattan Building: Source

Law360, New York (June 7, 2012, 4:49 PM EDT) -- New York real estate firm Midtown Equities Group has signed a soft contract to acquire a 520,000-square-foot office property in downtown Manhattan from Melohn Properties Inc. for roughly $175 million, a person familiar with the matter said Thursday.

Midtown Equities, run by New York real estate mogul Joseph J. Cayre, now will have an exclusive time period to complete fundraising to finance the acquisition of the 180 Water St. property in Manhattan's Downtown market, said the source, who spoke on the condition of anonymity because the...
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