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Jamestown Markets Trophy Tower

NEW YORK CITY-Jamestown places its 1.95-million-sf 1211 Ave. of the Americas on the market, handing the assignment over to Eastdil's Doug Harmon and Adam Spies. Jamestown paid approximately $590 million for the site six years ago.

By Barbara Jarvie | Updated on May 10, 2006

NEW YORK CITY-Jamestown is placing a Midtown trophy tower here at 1211 Ave. of the Americas up for sale. The company acquired 1211 in April 2000 for about $590 million.

Jamestown Managing Director Jeff Ackemann says it is “extremely difficult to find a building that can rival 1211′s tenant roster, location and sheer size.” He tells GlobeSt.com that now is “the perfect time” to sell the asset. Originally Jamestown had intended to hold it for a few more years as it repositioned the tower, but that effort was accomplished sooner than anticipated.

The Atlanta-based firm has hired Douglas Harmon and Adam Spies of Eastdil Secured to market the 45-story, 1.95 million-sf office. Eastdil will begin its marketing effort later this month. There is no set asking price.

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