CUNY To Buy Chunk Of Largely Vacant Midtown Durst Tower

Law360, New York (September 4, 2012, 5:36 PM EDT) -- The City University of New York has agreed to buy a 170,000-square-foot office condo in Midtown Manhattan from The Durst Organization Inc. for an undisclosed price, a spokesman for Durst confirmed Tuesday.

CUNY will own the property for 30 years before returning it to Durst, which owns the 532,000-square-foot office building at 205 E. 42nd St. Durst declined to disclose the price of the office condo.

Durst had struggled to find a tenant for the space vacated by Pfizer Inc. several years ago, as finance and media...
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