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Deals & Dealmakers

Normandy acquires additional 19 percent stake in 80 Maiden Lane for $54M

Normandy Real Estate Partners has increased its stake in 80 and 90 Maiden Lane, according to documents filed with the city.

Photo via LETA Architecture's website
Photo via LETA Architecture’s website

The firm closed on its acquisition of an additional 19 percent share in the Lower Manhattan office buildings for $54.05 million. Records show that the entity that sold the interest in the property, W Maiden Owner LLC, is registered to the address of Brooklyn development firm Read Property Group. Robert Wolf, an executive at the firm, is also an authorized signatory for the LLC.

The two buildings are adjacent from one another. The larger property is 80 Maiden Lane, which is 25 stories tall. The tower’s tenant roster includes opioid treatment facility Lower Eastside Service Center and co-working firm Freelancers Union Hall. Meanwhile, 90 Maiden Lane is a 30,000 s/f property that’s only four stories tall. Tenants in the building include NY Pelvic Pain and Minimally Invasive Gynecologic Surgery P.C. and education center Bright Minds.

Jared Kushner and Normandy agreed to acquire a controlling interest in the buildings in 2014. The partners acquired the stake from Joseph Chetrit. The deal valued the buildings at $210 million.

Normandy declined to comment.




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