Kuwait Investor Lands NY Luxury Tower Lease For $134M

Law360, New York (February 2, 2012, 8:34 PM EST) -- A state-owned Kuwaiti investment management company on Wednesday purchased the lease for downtown Manhattan luxury tower 2 Cooper Square for more than $134 million from New York's Atlantic Development Group LLC.

Kuwait's Wafra Investment Advisory Group Inc. will take over management of the 144-unit rental tower, which is located in Manhattan's trendy NoHo neighborhood — named for the area north of Houston Street between the borough's East and Greenwich villages — according to a lease agreement filed Wednesday in New York.

The parties could not immediately...
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