2/22/2008

Swiss foundation sells Manhattan office building for $60M

by

156 William Street

Capstone Equities, LLC, has purchased a 250,000 square foot office building located in the heart of downtown Manhattan's financial district for $60 million from AFIAA, a Swiss foundation for international real estate investments.

AFIAA, which acquired the building in 2005 for $40.75 million, was represented in-house while Capstone was repped by Georgia Malone & Company.

The 12-story tower is located at 156 William St. and contains 250,000 square feet. Built in 1955, it is being leased by Andrew Peretz of Cushman & Wakefield. Capstone plans to upgrade the property and create a luxury office building.

In a joint venture with the Carlyle Group, Capstone owns nearby 14 Wall St.

Capstone Equities invests primarily in office properties in Downtown Manhattan.

Address: 156 William St., New York, N.Y.

Size: 250,000 square feet

Built: 1955

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Filed Under: Office

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