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Circle Properties Closes on $350M Acquisition

NEW YORK CITY-Circle snaps up the asset for $625 per sf. Major tenants include Mueser Rutledge Consulting Engineers.

By Natalie Dolce | Updated on August 27, 2007

NEW YORK CITY-The approximately 560,000-sf, 14 Penn Plaza has closed on its contract for $350 million to Circle Properties Associates LLC. Cushman & Wakefield confirms the closing and confirms to GlobeSt.com that the 22-story building went for $625 per sf.

The sale of the property, at 225 W. 34th St., was brokered by Andrew S. Borrok and Charles R. Borrok through Cushman & Wakefield’s Capital Markets Group investment team of Jon Caplan, Scott Latham, Richard Baxter and Ron Cohen. The purchaser was advised by New York City-based Wells Hill Partners Ld. and Dakota Realty.

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