In January, a GlobeSt.com investment banker source predicted that the 767 Fifth Ave. property would trigger demand from a host of domestic and global investors. The source predicted that a team of investors might be better suited to buy the property given the potential sale price.
A Goldman Sachs spokesperson tells GlobeSt.com that they have no comment at this time. A Boston Properties spokesperson did not respond to GlobeSt.com queries by deadline. Macklowe did not return GlobeSt.com queries by deadline. CB Richard Ellis Group Inc., who is marketing the GM Building for Macklowe tells GlobeSt.com that they have no comment at this time.
Reports say that the group has contacted Macklowe's lenders to discuss assuming the tower's existing debt and "possibly modify the loan terms." The deal would let Macklowe pay off some of the $7 billion in loans that he took out on seven Manhattan towers bought last February.
Deborah Jackson, executive managing director of Weiser Realty Advisors LLC, previously told GlobeSt.com that since the purchase of the GM Building property in Sept. 2003 for $735 per sf, the market has strengthened for all office product, especially for well-located trophy buildings. The commercial skyscraper is located between 58th and 59th streets and rests atop an entire city block directly across the street from the Plaza Hotel. Tenants include General Motors Corp., Weil, Gotshal & Manges; Bank of America; Baron Capital; Forstmann Little & Co.; Belfer Management Inc.; Estee Lauder Cos.; Icahn Associates Corp.; K. Hovanian Cos.; and MCL Corp. among others.
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
