NEW YORK CITY-The Treeline Cos. has sold the former Brooklyn Savings Bank building located at 205 Montague Street in Brooklyn for $33 million. The building measures 87,000 square feet and was purchased by Midtown Equities.
The building was earlier acquired by Treeline in 1997 in a pre-foreclosure sale for almost double the sale price. An official from Treeline has said that the property was sold because the firm believed that it was offered a strong market price. For the full story, go to Real Estate Finance & Investment.
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