Vornado, HFZ Buy Manhattan Building For $170M

Law360, New York (January 9, 2012, 5:52 PM EST) -- Real estate management company Abro Management Corp. has sold a Manhattan residential and retail property to HFZ Capital Group and a private equity fund managed by Vornado Realty Trust for $170 million, a source familiar with the matter said Monday.

Vornado had reportedly agreed to purchase the property from Abro in September through Vornado Capital Partners LP, its $800 million private equity fund. But the source said that HFZ recently came in as a second buyer on the deal, which closed Thursday.

According to public records,...
To view the full article, register now.