Toll Brothers To Snag Flatiron Property For $150M

Law360, New York (September 25, 2013, 3:56 PM EDT) -- Homebuilder Toll Brothers Inc. has agreed to purchase a piece of property in Manhattan's Flatiron District that could become a 200,000-square-foot residential development from nonprofit United Cerebral Palsy, a person close to the deal confirmed Wednesday.

The building at 122-130 East 23rd St. was marketed by Avison Young and was originally expected to yield around $80 million when listed in March.

Representatives for the parties declined to comment further, but a report on real estate magazine The Real Deal's web site pinned the price tag at...
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