"This is an emerging area of the city where there has been a rapid rise in property values, so the timing was appropriate for a sale," says Richard Mack, managing partner of Apollo.
Apollo as well as TDC Development International and Excelsior II LLC, Apollo investment partners, originally purchased the 12-story SoHo building in 2006.
Holliday Fenoglio Fowler represented the Apollo and its partners in the sale. Apollo did not return requests for comment.
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