NEW YORK CITY-The owner of 2 Rector Pl., Larry Gluck, and its B note holder, Savanna Partners, have said that they have successfully worked a deal to create an escrow, which will enable them to re-tenant the 430,000-square-foot building. The building was almost empty after Lehman Brothers and New York State Dept. of Transportation vacated their offices.
Sources say that the deal is for about $10 million and includes re-amortization of the mortgage and delisting the property from the special servicing rolls. For the full story, go to New York Post.
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