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Mobil Building Sells On Surprise Bid

NEW YORK CITY—Trophy asset buyer David Werner picked up the property at a hefty price while also securing a long-term ground lease with the building's land owners.

By Rayna Katz | Updated on April 17, 2014

NEW YORK CITY—Surprising other potential bidders, real estate investor David Werner has signed a contract to buy the Mobil building on East 42nd street for more than $900 million, according to the Wall Street Journal.

The notoriously tight-lipped Werner was represented in the deal by Doug Harmon, senior managing director, Eastdil Secured, who did not respond to a request for comment. The seller, notes the Journal, technically was Hiro Real Estate LLC, a unit of a Japanese company, but Goldman Sachs Group was key to the deal because it reportedly holds the debt on the building. The investment bank declined to comment.

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