Cove Property, Baupost Nab NY Office Building In $330M Deal

Law360, New York (December 14, 2016, 5:12 PM EST) -- A joint venture between Cove Property Group and Baupost Group has purchased an eight-story office building on the west side of Manhattan from EmblemHealth Inc. in a deal worth $330 million, according to a statement Tuesday from CBRE Capital Markets, which arranged the sale.

The pair closed on 441 Ninth Ave. on Dec. 6, according to city property records. The property was purchased from EmblemHealth, which occupies and will lease back the building until next year, when it plans to vacate, Tuesday's statement said.

Located between 34th and 35th streets, near Penn Station and the Hudson Yards development project, the property...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!


Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!